Question

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 department had 40,000 units in ending inventory, 85% complete as to materials and 45% complete as to conversion. Units completed in the forming department are transferred to the painting department.

Cost information for the forming department is as follows:

Beginning work in process inventory: $76,100

Direct materials added during the month: $1,708,540

Conversion added during the month: $1,132,250

1. Calculate the equivalent units of production for the forming department.

Direct Materials: ?

Conversion: ?

2. Calculate the costs per equivalent unit of production for the forming department.

Direct Materials: ? per EUP

Conversion: ? per EUP

3. Using the weighted-average method, assign costs to the forming department's output - specifically, its units transferred to painting its ending work in process inventory.

Cost Assignment and Reconciliation
Cost of units transferred out	EUP	Cost per EUP	Total Cost
Direct Materials	?	?	?
Conversion		?	?
Total costs transferred out
Costs of ending work in process	EUP	Cost per EUP	Total Cost
Direct Materials	?	?
Conversion	?	?
Total cost of ending work in process
Total costs assigned				?

Answer 1