(Appendix 6A)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 6A)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 6A)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 6A)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 6A)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 6A)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 6A)The Smith Company Manufactures a Product That Goes Through