Please do not give solution in image format thanku lookCalculate the equivalent units of production for both direct materials and conversion for the forming department.Direct MaterialsHinta. 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.Completed and transferred outEnding work in processPrintComplete this question by entering your answers in the tabs below.FRequired A Required B Required CrenceseBookBHint-Print0ReferencesRequired ACosts of beginning work in processCosts added this periodTotal costsRequired B Required CUnitsComplete this question by entering your answers in the tabs below.Equivalent units of production (from part a)Cost per equivalent unit of productionCost AssignmentCompleted and transferred outDirect materialsConversionRequired APercentCompleteEnding work in processDirect materialsConversionCalculate the costs per equivalent unit of production for both direct materials and conversion for the forming department.Total Completed and transferred outTotal costs accounted forEUPRequired B >Direct MaterialsEUPEUPRequired A Required B Required 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.EUPper EUPPercentCompleteConversionCost per EUPCost per EUPConversionEUPEUPper EUPTotal costTotal cost Use the following information for the Exercises below. (Algo)[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 materialsUnits31,000420,000411,00040,000ConversionCosts added this periodDirect materialsConversionTotal costs to account for$ 52,00020,1001,631,4001,079,700DirectMaterialsPercentComplete70880%$ 72,1002,711,100$ 2,783,200ConversionPercentComplete30%30%

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Description: Please do not give solution in image format thanku lookCalculate the equivalent units of production for both direct materials and conversion for the forming department.Direct MaterialsHinta. Calculate the equivalent units of production for both direc

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

Business

Accounting

Use the following information for the Exercises below. (Algo) [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. Units 31,000 420,000 411,000 40,000 Conversion Costs added this period Direct materials Conversion Total costs to account for $ 52,000 20,100 1,631,400 1,079,700 Direct Materials Percent Complete 70% 80% $ 72,100 2,711,100 $ 2,783,200 Conversion Percent Complete 30% 30%

Use the following information for the Exercises below. (Algo) [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. Units 31,000 420,000 411,000 40,000 Conversion Costs added this period Direct materials Conversion Total costs to account for $ 52,000 20,100 1,631,400 1,079,700 Direct Materials Percent Complete 70% 80% $ 72,100 2,711,100 $ 2,783,200 Conversion Percent Complete 30% 30%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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