Homework Answers
The following information is given for the production department for conversion costs
- The weighted average method is followed by the company
- The equivalent units of production for the month of March is 945,000 units
- The beginning inventory cost of conversion costs is $468,000
- The conversion costs during the month are $137,500
The cost per equivalent unit of conversion = (beginning
inventory cost of conversion costs + conversion costs during the
month) / equivalent units of production for the month
= ($468,000 + $137,500) /945,000
=$605,500 /945,000
=$0.64
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A production department's beginning inventory cost includes $468,000 of conversion costs. This department incurs an additional...
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1. Calculate the equivalent units of production
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transferred to painting and its ending work in process
inventory.
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...
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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.
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...
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