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%

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Chapter1: Financial Statements And Business Decisions
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Calculate the equivalent units of production for both direct materials and conversion for the forming department.
Direct Materials
Hint
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.
Completed and transferred out
Ending work in process
Print
Complete this question by entering your answers in the tabs below.
F
Required A Required B Required C
rences
eBook
B
Hint
-
Print
0
References
Required A
Costs of beginning work in process
Costs added this period
Total costs
Required B Required C
Units
Complete this question by entering your answers in the tabs below.
Equivalent units of production (from part a)
Cost per equivalent unit of production
Cost Assignment
Completed and transferred out
Direct materials
Conversion
Required A
Percent
Complete
Ending work in process
Direct materials
Conversion
Calculate the costs per equivalent unit of production for both direct materials and conversion for the forming department.
Total Completed and transferred out
Total costs accounted for
EUP
Required B >
Direct Materials
EUP
EUP
Required A Required B Required 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.
EUP
per EUP
Percent
Complete
Conversion
Cost per EUP
Cost per EUP
Conversion
EUP
EUP
per EUP
Total cost
Total cost
Transcribed Image Text:look Calculate the equivalent units of production for both direct materials and conversion for the forming department. Direct Materials Hint 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. Completed and transferred out Ending work in process Print Complete this question by entering your answers in the tabs below. F Required A Required B Required C rences eBook B Hint - Print 0 References Required A Costs of beginning work in process Costs added this period Total costs Required B Required C Units Complete this question by entering your answers in the tabs below. Equivalent units of production (from part a) Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Required A Percent Complete Ending work in process Direct materials Conversion Calculate the costs per equivalent unit of production for both direct materials and conversion for the forming department. Total Completed and transferred out Total costs accounted for EUP Required B > Direct Materials EUP EUP Required A Required B Required 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. EUP per EUP Percent Complete Conversion Cost per EUP Cost per EUP Conversion EUP EUP per EUP Total cost Total 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 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
708
80%
$ 72,100
2,711,100
$ 2,783,200
Conversion
Percent
Complete
30%
30%
Transcribed Image Text: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 708 80% $ 72,100 2,711,100 $ 2,783,200 Conversion Percent Complete 30% 30%
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