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 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 periodi Direct materials Conversion Total costs to account for Units 33,500 470,000 468,500 35,000 Completed and transferred out Ending work in process $ 55,000 22,100 Units 1,745,000 1,154,020 < Required A Direct Materials Percent Complete 70% Complete this question by entering your answers in the tabs below. Percent Complete 90% 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. $ 77,100 2,899,020 $ 2,976,120 Required A Required B Required C Calculate the equivalent units of production for both direct materials and conversion for the forming department. Direct Materials EUP Conversion Percent Complete 30% 50% Percent Complete Required B > Conversion 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 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 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 periodi Direct materials Conversion Total costs to account for Units 33,500 470,000 468,500 35,000 Completed and transferred out Ending work in process $ 55,000 22,100 Units 1,745,000 1,154,020 < Required A Direct Materials Percent Complete 70% Complete this question by entering your answers in the tabs below. Percent Complete 90% 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. $ 77,100 2,899,020 $ 2,976,120 Required A Required B Required C Calculate the equivalent units of production for both direct materials and conversion for the forming department. Direct Materials EUP Conversion Percent Complete 30% 50% Percent Complete Required B > Conversion EUP
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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
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
Units
33,500
470,000
468,500
35,000
Completed and
Ending work in process
transferred out
$ 55,000
22,100
Units
1,745,000
1,154,020
< Required A
Complete this question by entering your answers in the tabs below.
Direct
Materials
Percent
Complete
70%
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.
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.
c.
Percent
Complete
90%
$ 77,100
2,899,020
$ 2,976,120
Required A
Required B Required C
Calculate the equivalent units of production for both direct materials and conversion for the forming department.
Direct Materials
EUP
Conversion
Percent
Complete
30%
50%
Percent
Complete
Required B >
Conversion
EUP
Che](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffbe34582-b62c-4284-8862-b01b773ee480%2F5ecfad26-8670-40de-81bf-06278619b0ad%2Fc59u6ji_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
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
Units
33,500
470,000
468,500
35,000
Completed and
Ending work in process
transferred out
$ 55,000
22,100
Units
1,745,000
1,154,020
< Required A
Complete this question by entering your answers in the tabs below.
Direct
Materials
Percent
Complete
70%
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.
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.
c.
Percent
Complete
90%
$ 77,100
2,899,020
$ 2,976,120
Required A
Required B Required C
Calculate the equivalent units of production for both direct materials and conversion for the forming department.
Direct Materials
EUP
Conversion
Percent
Complete
30%
50%
Percent
Complete
Required B >
Conversion
EUP
Che
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