O Not Secure ezto.mheducation.com/hm.tpx Exercise 16-6 Weighted average: Cost pe

Question

O Not Secure ezto.mheducation.com/hm.tpx Exercise 16-6 Weighted average: Cost per EUP and costs assigned to output LO C2 The Fieids Compary has two manufacturing departments, forming and painting The company uses the weighned-everage menod of process costing Al the beginning of the month, the forming department has 28,000 unis in inventory 65% eer-as to materials and 35% complete as toco ersion costs. The begring nventory cost of See,100cosisted of ofdred mater costs and $17,700 of oonversion During the month the forming department started 360,000 units. At the end of the month, the forming depamentad 36.000 unts in enang inventory, 80% oompleto as to materals and IONcomplete as t conversion. Urits completed in the forming department are transfermed to the painting department Coat information for the forming depertment is as follows Beginning work in process inventory S66,100 Direct materials added during the month 1,703 280 Conversion added during the month 80,460 1. Caculate the equvalent unts of preduction for the forming department Direct Materials 2. Caloulate the costs per equivaient unit of production for the forming department (Round your answr to 2 decimal places Direct Materiais EUP unts trasferred to pairting equivalent unit to two decimal places and use and its ending wok in process inventory (Round your "eosts per rounded answer in further computations) Cost of unts transferred out Cost per EUP Total cest Direct matera's Total couts transfened ou Costs of endng work in process EUP Cost per EUP Total coat esc FI F3 F4 F6

Explanation / Answer

Equivalent units physical unit Material Conversion 1 Units to be accounted for Beginning WIP 28000 Units started 360000 Total 388000 Units accounted for Units completed and transferred 352000 352000 352000 Ending Wip(80%/30%) 36000 28800 10800 Total 388000          380,800          362,800 2 Cost Beginning Wip 48400 17700 Cost during the month 1703280 780460 Total cost 1751680 798160 ÷ EUP          380,800          362,800 Cost per EUP                 4.60                 2.20 3 Cost assignment and reconciliation Cost of units transferred out EUP Cost per EUP Total Cost Direct materials 352000 4.6 1619200 Conversion 352000 2.2 774400 Total costs transferred out            2,393,600 Cost of ending work in process EUP Cost per EUP Total Cost Direct materials 28800 4.6 132480 Conversion 10800 2.2 23760 Total cost of ending work in process                156,240 Total costs assigned $        2,549,840

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