Please do not give solution in image format ? And Fast answering please and explain proper steps by Step. Required information[The following information applies to the questions displayed below.]Fields Company has two manufacturing departments, forming and painting. The company uses the weighted averagemethod and it reports the following unit data for the Forming department. Units completed in the forming department aretransferred to the painting department.Beginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryProduction cost information for the forming department follows.Beginning work in processDirect materialsConversionCosts added this periodDirect materialsConversionTotal costs to account forUnits36,000520,000Completed and transferred outEnding work in process516,00040,000Units$ 58,00024,1001,889,0001.226,700< Required ADirect MaterialsDirectMaterialsComplete this question by entering your answers in the tabs below.PercentCompletePercentComplete70%a. Calculate the equivalent units of production for both direct materials and conversion for the Forming departmentb. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departmentc. Using the weighted average method, assign costs to the forming department's output-specifically, its units transferred topainting and its ending work in process inventory.85%EUP$82,100Required A Required B Required CCalculate the equivalent units of production for both direct materials and conversion for the forming department.Conversion3,115,700$ 3,197,800ConversionPercentComplete30%PercentComplete35%Required B >EUP Required information[The following information applies to the questions displayed below]Fields Company has two manufacturing departments, forming and painting. The company uses the weighted averagemethod and it reports the following unit data for the Forming department. Units completed in the forming department aretransferred to the painting department.Beginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryProduction cost information for the forming department follows.Beginning work in processDirect materialsConversionCosts added this periodDirect materialsConversionTotal costs to account forRequired A Required BCosts of beginning work in processCosts added this periodTotal costs-Equivalent units of production (from part a)Cost per equivalent unit of productionRequired CShow Transcribed TextComplete this question by entering your answers in the tabs below.a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department.b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departmentc. Using the weighted average method, assign costs to the forming department's output-specifically, its units transferred topainting and its ending work in process inventory.Beginning work in processDirect materialsConversionCosts added this periodDirect materialsConversionTotal costs to account forRequired ECalculate the costs per equivalent unit of production for both direct materials and conversion for the forming department.Direct MaterialsUnits36,000520,000< Required ARequired information[The following information applies to the questions displayed below]Cost AssignmentCompleted and transferred outDirect materialsConversion516,00040,000Beginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryProduction cost information for the forming department follows$ 58,00024,100Total Completed and transferred out iEnding work in processDirect materialsConversion1,889,0001.226,700Total costs accounted forEUPEUP< Required BFields Company has two manufacturing departments, forming and painting. The company uses the weighted averagemethod and it reports the following unit data for the Forming department Units completed in the forming department aretransferred to the painting departmentUnits36,000520,000516,00040,000EUPper EUP$ 58,00024,1001,889,0001,226,700Complete this question by entering your answers in the tabs below.DirectMaterialsPercentComplete70%c85%$ 82,1003,115,700$3,197,800Cost per EUPRequired C >Cost per EUP$0.00S000DirectMaterialsPercentComplete70%85%3,115,700$ 3,197,500a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department.b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department.c. Using the weighted average method, assign costs to the forming department's output-specifically, its units transferred topainting and its ending work in process inventory$ 82,100Required ARequired B Requied CUsing the weighted average method, assign costs to the forming department's output-specifically, its units transferred topainting and its ending work in process inventory.RequiredConversionConversionPercentComplete30%EUPper EUPConversionPercentComplete30%35%35%Total costTotal cost0.00000

The equivalent units are calculated on the basis of the percentage of the work completed during the…

Required information [The following information applies to the questions displayed below] Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department. Beginning work in process inventory Units started this period Units 36,000 520,000 Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for 516,000 40,000 $ 58,000 24,100 1,889,000 1.226,700 Direct Materials Percent Complete 70% 85% $82,100 3,115,700 $ 3,197,800 Conversion Percent Complete 30% 35% a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department c. Using the weighted average method, assign costs to the forming department's output-specifically, its units transferred to painting and its ending work in process inventory.

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q