Question
In: Accounting
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
Fields Company has two manufacturing departments, forming and
painting. The company uses the weighted-average method of process
costing. At the beginning of the month, the forming department has
27,000 units in inventory, 80% complete as to materials and 20%
complete as to conversion costs. The beginning inventory cost of
$63,200 consisted of $47,200 of direct materials costs and $16,000
of conversion costs.
During the month, the forming department started 339,000 units. At
the end of the month, the forming department had 40,000 units in
ending inventory, 85% complete as to materials and 35% complete as
to conversion. Units completed in the forming department are
transferred to the painting department.
Cost information for the forming department follows.
| Beginning work in process inventory | $ | 63,200 |
| Direct materials added during the month | 1,349,600 | |
| Conversion added during the month | 956,400 | |
1. Calculate the equivalent units of production
for the forming department.
2. Calculate the costs per equivalent unit of
production for the forming department.
3. 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.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
Fields Company has two manufacturing departments, forming and
painting. The company uses the weighted-average method of process
costing. At the beginning of the month, the forming department has
34,000 units in inventory, 75% complete as to materials and 25%
complete as to conversion costs. The beginning inventory cost of
$78,100 consisted of $55,600 of direct materials costs and $22,500
of conversion costs.
During the month, the forming department started 480,000 units. At
the end of the month, the forming department...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming
and painting. The company uses the weighted-average method of
process costing. At the beginning of the month, the forming
department has 32,000 units in inventory, 65% complete as to
materials and 35% complete as to conversion costs. The beginning
inventory cost of $71,100 consisted of $51,400 of direct materials
costs and $19,700 of conversion costs. During the month, the
forming department started 410,000 units. At the end of the month,
the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming
and painting. The company uses the weighted-average method of
process costing. At the beginning of the month, the forming
department has 28,000 units in inventory, 70% complete as to
materials and 30% complete as to conversion costs. The beginning
inventory cost of $67,100 consisted of $49,000 of direct materials
costs and $18,100 of conversion costs.
During the month, the forming department started 370,000 units. At
the end of the month, the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming and
painting. The company uses the weighted-average method of process
costing. At the beginning of the month, the forming department has
37,000 units in inventory, 80% complete as to materials and 20%
complete as to conversion costs. The beginning inventory cost of
$84,100 consisted of $59,200 of direct materials costs and $24,900
of conversion costs.
During the month, the forming department started 540,000 units. At
the end of the month, the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming
and painting. The company uses the weighted-average method of
process costing. At the beginning of the month, the forming
department has 25,000 units in inventory, 60% complete as to
materials and 40% complete as to conversion costs. The beginning
inventory cost of $60,100 consisted of $44,800 of direct materials
costs and $15,300 of conversion costs.
During the month, the forming department started 300,000 units. At
the end of the month, the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming
and painting. The company uses the weighted-average method of
process costing. At the beginning of the month, the forming
department has 30,000 units in inventory, 65% complete as to
materials and 35% complete as to conversion costs. The beginning
inventory cost of $61,000 consisted of $45,000 of direct materials
costs and $16,000 of conversion costs.
During the month, the forming department started 300,000 units. At
the end of the month, the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming
and painting. The company uses the weighted-average method of
process costing. At the beginning of the month, the forming
department has 34,000 units in inventory, 75% complete as to
materials and 25% complete as to conversion costs. The beginning
inventory cost of $78,100 consisted of $55,600 of direct materials
costs and $22,500 of conversion costs. During the month, the
forming department started 480,000 units. At the end of the month,
the forming...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
Fields Company has two manufacturing departments, forming and
painting. The company uses the weighted-average method of process
costing. At the beginning of the month, the forming department has
33,000 units in inventory, 65% complete as to materials and 35%
complete as to conversion costs. The beginning inventory cost of
$76,100 consisted of $54,400 of direct materials costs and $21,700
of conversion costs. During the month, the forming department
started 460,000 units. At the end of the month, the forming
department...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has
two manufacturing departments, forming and painting. The company
uses the weighted-average method of process costing. At the
beginning of the month, the forming department has 30,000 units in
inventory, 60% complete as to materials and 40% complete as to
conversion costs. The beginning inventory cost of $70,100 consisted
of $50,800 of direct materials costs and $19,300 of conversion
costs.
During the month, the forming department started 400,000 units. At
the end of the month, the forming...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming
and painting. The company uses the weighted-average method of
process costing. At the beginning of the month, the forming
department has 37,000 units in inventory, 80% complete as to
materials and 20% complete as to conversion costs. The beginning
inventory cost of $84,100 consisted of $59,200 of direct materials
costs and $24,900 of conversion costs. During the month, the
forming department started 540,000 units. At the end of the month,
the forming...
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