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Homework Answers
Weighted average
| Ques 1 | ||||
| Direct Materials | 439000 | |||
| Conversion | 424000 | |||
| Ques 2 | ||||
| Direct Materials | $ 3.68 | EUP | ||
| Conversion | $ 2.55 | EUP | ||
| Ques 3 | ||||
| Cost Assignment and Reconciliation | ||||
| Cost of units transferred out | EUP | Cost per EUP | Total cost | |
| Direct materials | 412,000 | $ 3.68 | $1,516,160 | |
| Conversion | 412,000 | $ 2.55 | $1,050,600 | |
| Total costs transferred out | $2,566,760 | |||
| Costs of ending work in process | EUP | Cost per EUP | Total cost | |
| Direct materials | 27,000 | $ 3.68 | $99,360 | |
| Conversion | 12,000 | $ 2.55 | $30,600 | |
| Total cost of ending work in process | $129,960 | |||
| Total costs assigned | $2,696,720 | |||
Working:
| Direct Materials | conversion | |
| Units completed & tfd out | 412000 | 412000 |
| 32000+410000-30000 | ||
| 412000*100% | ||
| Ending in Beginning WIP | ||
| Direct Materials | 27000 | |
| 30000*0.9 | ||
| Conversion cost | 12000 | |
| 0.4*30000 | ||
| Equivalent Units | 439000 | 424000 |
| Costs incurred | 1615520 | 1081200 |
| 51400+1564120 | ||
| 19700+1061500 | ||
| Equivalent Units | 439000 | 424000 |
| Cost per equivalent unit | $ 3.68 | $ 2.55 |
FIFO
| Ques 1 | ||
| Direct Materials | 418200 | |
| Conversion | 412800 | |
| Ques 2 | ||
| Direct Materials | $ 3.74 | EUP |
| Conversion | $ 2.57 | EUP |
Working
| Direct Materials | conversion | |
| Units in Beginning WIP | ||
| Direct Materials | 11200 | |
| 32000*(1-0.65) | ||
| Conversion cost | 20800 | |
| 32000*(1-0.35) | ||
| Units started and completed | 380000 | 380000 |
| Ending in Beginning WIP | ||
| Direct Materials | 27000 | |
| 30000*0.9 | ||
| Conversion cost | 12000 | |
| 0.4*30000 | ||
| Equivalent Units | 418200 | 412800 |
| Costs incurred | 1564120 | 1061500 |
| Equivalent Units | 418200 | 412800 |
| Cost per equivalent unit | $ 3.74 | $ 2.57 |
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Required information (The following information applies to the questions displayed below.] Fields Company has two manufacturing...
Required information [The following information applies to the questions displayed below.] Fields Company has two manufacturing...
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 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...
Required information The following information applies to the questions displayed below.) Fields Company has two manufacturing...
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 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...
Required information [The following information applies to the questions displayed below.) Fields Company has two manufacturing...
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 of process costing. At the beginning of the month, the forming department has 36,000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $82,100 consisted of $58,000 of direct materials costs and $24,100 of conversion costs. During the month, the forming department started...
Required information (The following information applies to the questions displayed below) Fields Company has two manufacturing...
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 of process costing. At the beginning of the month, the forming department has 35,000 units in inventory, 60% complete as to materials and 40% complete as to conversion costs. The beginning inventory cost of $80,100 consisted of $56,800 of direct materials costs and $23.300 of conversion costs. During the month, the forming department...
Required information (The following information applies to the questions displayed below.) Fields Company has two manufacturing...
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 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...
[The following information applies to the questions displayed below) Fields Company has two manufacturing departments, forming...
[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 of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $69,100 consisted of $50,200 of direct materials costs and $18.900 of conversion costs. During the month, the forming department started 390,000...
Required information (The following information applies to the questions displayed below. The Fields Company has two...
Required information (The following information applies to the questions displayed below. 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...
Required information The following information applies to the questions displayed below.] The Fields Company has two...
Required information The following information applies to the questions displayed below.] 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 $75,100 consisted of $53,800 of direct materials costs and $21,300 of conversion costs. During the month, the forming department...
3 [The following information applies to the questions displayed below. Fields Company has two manufacturing departments,...
3 [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 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. 1 points During the month, the forming department...
pt 2. The following information applies to the questions displayed below! Fields Company has two manufacturing...
pt 2.
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 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...
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 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...
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 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...
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 of process costing. At the beginning of the month, the forming department has 36,000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $82,100 consisted of $58,000 of direct materials costs and $24,100 of conversion costs. During the month, the forming department started...
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 of process costing. At the beginning of the month, the forming department has 35,000 units in inventory, 60% complete as to materials and 40% complete as to conversion costs. The beginning inventory cost of $80,100 consisted of $56,800 of direct materials costs and $23.300 of conversion costs. During the month, the forming department...
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 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...
[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 of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $69,100 consisted of $50,200 of direct materials costs and $18.900 of conversion costs. During the month, the forming department started 390,000...
Required information (The following information applies to the questions displayed below. 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...
Required information The following information applies to the questions displayed below.] 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 $75,100 consisted of $53,800 of direct materials costs and $21,300 of conversion costs. During the month, the forming department...
3 [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 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. 1 points During the month, the forming department...
pt 2.
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 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...
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