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Fields | |
Weighted Average | |
Unit reconciliation | Whole Units |
Beginning work in process inventory | 37,000.00 |
Add: Units started in the month | 540,000.00 |
Less: Ending work in process inventory | 40,000.00 |
Units completed in the month: | 537,000.00 |
Answer 1 | Whole Units | % Materials | EUP- Materials | % Conversion | EUP- Conversion |
Flow of production of units: | |||||
Units completed in the month | 537,000.00 | 100% | 537,000.00 | 100% | 537,000.00 |
Units ending in WIP Inventory | 40,000.00 | 80% | 32,000.00 | 30% | 12,000.00 |
Equivalent Units of production | 577,000.00 | 569,000.00 | 549,000.00 | ||
Answer 2 | EUP- Materials | EUP- Conversion | |||
Cost of beginning work in process | 59,200.00 | 24,900.00 | |||
Costs added during the period | 1,949,370.00 | 1,254,270.00 | |||
Total cost | 2,008,570.00 | 1,279,170.00 | |||
Equivalent Units of production | 569,000.00 | 549,000.00 | |||
Cost per Equivalent Unit of production | 3.53 | 2.33 |
Answer 3 | EUP | Cost per EUP | Total Cost | |
Direct Materials | 32,000.00 | 3.53 | 112,960.00 | |
Conversion | 12,000.00 | 2.33 | 27,960.00 | |
Total costs of ending work in process | 140,920.00 | |||
Answer 3 | EUP | Cost per EUP | Total Cost | |
Direct Materials | 537,000.00 | 3.53 | 1,895,610.00 | |
Conversion | 537,000.00 | 2.33 | 1,251,210.00 | |
Total costs transferred out | 3,146,820.00 | |||
Total costs assigned | 3,287,740.00 |
Fields | |
FIFO | |
Unit reconciliation | Whole Units |
Units completed in the month: | 537,000.00 |
Less: Beginning work in process inventory | 37,000.00 |
Started and completed in same month | 500,000.00 |
Answer 1 | Whole Units | % Materials | EUP- Materials | % Conversion | EUP- Conversion |
Flow of production of units: | |||||
Beginning work in process inventory | 37,000.00 | 20% | 7,400.00 | 80% | 29,600.00 |
Started and completed in same month | 500,000.00 | 100% | 500,000.00 | 100% | 500,000.00 |
Units ending in WIP Inventory | 40,000.00 | 80% | 32,000.00 | 30% | 12,000.00 |
Equivalent Units of production | 577,000.00 | 539,400.00 | 541,600.00 | ||
Answer 2 | EUP- Materials | EUP- Conversion | |||
Costs added during the period | 1,949,370.00 | 1,254,270.00 | |||
Equivalent Units of production | 539,400.00 | 541,600.00 | |||
Cost per Equivalent Unit of production | 3.61 | 2.32 |
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 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 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 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 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 a 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...
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 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...
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...
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...
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 units. At the end of the month, the forming department...