Homework Answers
Solution 1:
| Forming Department | |||||
| Equivalent units of production (EUP) - Weighted Average method | |||||
| Units | % material | EUP-Materials | % Conversion | EUP- Conversion | |
| Units Completed and transferred out (26000+327000-40000) | 313000 | 100% | 313000 | 100% | 313000 |
| units of Ending work in process | 40000 | 80% | 32000 | 30% | 12000 |
| Equivalent units of production | 345000 | 325000 | |||
Solution 2:
| Cost per Equivalent unit: | Material | Conversion |
| Cost of Beginning Work in Process | $46,600 | $16,500 |
| Cost added | $1,333,400 | $939,000 |
| Total Costs | $1,380,000 | $955,500 |
| /Equivalent units of Production | 345000 | 325000 |
| Cost per Equivalent unit of Production | $4.00 | $2.94 |
Solution 3:
| Cost Assignment and reconciliation | |||
| Cost of Units Transferred Out | EUP | Cost per EUP | Total Cost |
| Material | 313000 | $4.00 | $1,252,000 |
| Conversion | 313000 | $2.94 | $920,220 |
| Total transferred out | $2,172,220 | ||
| Cost of ending work in process | EUP | Cost per EUP | Total Cost |
| Material | 32000 | $4.00 | $128,000 |
| Conversion | 12000 | $2.94 | $35,280 |
| Total Ending work in process | $163,280 | ||
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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 26.000 units in inventory. 75% complete as to materials and 25% complete as to conversion costs. The beginning inventory cost of $63,100 consisted of $46.600 of direct materials costs and $16.500 of conversion costs. During the month, the forming department started 327,000 units. At the end of the month, the forming...
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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...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method...
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Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method...
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...
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
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 department...
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...
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
27,000 units in inventory, 65% complete as to materials and 35%
complete as to conversion costs. The beginning inventory cost of
$66,100 consisted of $48,400 of direct materials costs and $17,700
of conversion costs.
During the month, the forming department started 360,000 units. At
the end of the month, the forming...
How do i calculate? Fields Company has two manufacturing departments, forming and painting. The company uses...
How do i calculate?
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...
HOW DO I CALCULATE? Fields Company has two manufacturing departments, forming and painting. The company uses...
HOW DO I CALCULATE?
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...
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 26.000 units in inventory. 75% complete as to materials and 25% complete as to conversion costs. The beginning inventory cost of $63,100 consisted of $46.600 of direct materials costs and $16.500 of conversion costs. During the month, the forming department started 327,000 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 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...
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...
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...
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 department...
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...
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
27,000 units in inventory, 65% complete as to materials and 35%
complete as to conversion costs. The beginning inventory cost of
$66,100 consisted of $48,400 of direct materials costs and $17,700
of conversion costs.
During the month, the forming department started 360,000 units. At
the end of the month, the forming...
How do i calculate?
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...
HOW DO I CALCULATE?
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...
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