(Appendix 4A)The Smith Company manufactures a product that goes through two departments prior to completion.The following information is available on work in one of these departments,the Forming Department,during March:

Cost in the beginning work-in-process inventory and cost added during the month were as follows:

The Forming Department is the first department in the production process; after forming has been completed, the units are transferred to the Finishing Department.

Required:

a) Assuming the company uses the weighted-average method, calculate the equivalent units and unit cost for materials and conversion costs, rounded to the nearest tenth of a cent.
b) (Appendix 4A) Assuming the company uses the FIFO method, calculate the equivalent units and unit cost for materials and conversion costs, rounded to the nearest tenth of a cent.

Question

(Appendix 4A)The Smith Company manufactures a product that goes through two departments prior to completion.The following information is available on work in one of these departments,the Forming Department,during March:

Cost in the beginning work-in-process inventory and cost added during the month were as follows:

The Forming Department is the first department in the production process; after forming has been completed, the units are transferred to the Finishing Department.

Required:

a) Assuming the company uses the weighted-average method, calculate the equivalent units and unit cost for materials and conversion costs, rounded to the nearest tenth of a cent.
b) (Appendix 4A) Assuming the company uses the FIFO method, calculate the equivalent units and unit cost for materials and conversion costs, rounded to the nearest tenth of a cent.

Quizplus · Accepted Answer

The Answer of (Appendix 4A)The Smith Company manufactures a product that goes through two departments prior to completion.The following information is available on work in one of these departments,the Forming Department,during March:

Cost in the beginning work-in-process inventory and cost added during the month were as follows:

The Forming Department is the first department in the production process; after forming has been completed, the units are transferred to the Finishing Department.

Required:

a) Assuming the company uses the weighted-average method, calculate the equivalent units and unit cost for materials and conversion costs, rounded to the nearest tenth of a cent.
b) (Appendix 4A) Assuming the company uses the FIFO method, calculate the equivalent units and unit cost for materials and conversion costs, rounded to the nearest tenth of a cent.

(Appendix 4A)The Smith Company Manufactures a Product That Goes Through