Question

At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in...

At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in inventory, 30% complete as to materials, and 10% complete as to conversion. During the month the department started 60,000 units and transferred 62,000 units to the next manufacturing department. At the end of the month, the department had 8,000 units in inventory, 80% complete as to materials and 60% complete as to conversion. If Martin Manufacturing uses the weighted average method of process costing, compute the equivalent units for materials and conversion respectively for the Forming Department.

Multiple Choice

68,400 materials; 66,800 conversion.

58,400 materials; 56,800 conversion.

59,000 materials; 61,000 conversion.

65,400 materials; 66,800 conversion.

65,400 materials; 65,800 conversion.

Homework Answers

Answer #1

Equivalent units under weighted average cost method is equal to

units completed and transfered to next department + (units in closing stock * percentage of completion)

Material equivalent units = 62000 units completed & transferred + 8000 * 80%

= 62000 units + 6400 equivalent units = 68400 units

Conversion = units completed & transfered + (units in closing stock* Percentage of completion)

= 62000 units + 8000*60% = 62000+4800 = 66,800 units

option A is the correct answer

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in...
At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in inventory, 30% complete as to materials, and 10% complete as to conversion. During the month the department started 60,000 units and transferred 62,000 units to the next manufacturing department. At the end of the month, the department had 8,000 units in inventory, 80% complete as to materials and 60% complete as to conversion. How many units did the Forming Department start and complete in...
At the beginning of the month, the Painting Department of Skye Manufacturing had 22,000 units in...
At the beginning of the month, the Painting Department of Skye Manufacturing had 22,000 units in inventory, 70% complete as to materials, and 25% complete as to conversion. The cost of the beginning inventory, $30,650, consisted of $24,400 of material costs and $6,250 of conversion costs. During the month the department started 117,000 units and transferred 123,000 units to the next manufacturing department. Costs added in the current month consisted of $258,080 of materials costs and $540,910 of conversion costs....
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
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 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...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
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 34,500 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $79,100 consisted of $56,200 of direct materials costs and $22,900 of conversion costs. During the month, the forming department started 490,000 units. At the end of the month, the forming department...
Badgersize Company has the following information for its Forming Department for the month of August. Work...
Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $ 80,000 Conversion: 20% complete 24,000 Balance in work in process, August 1 $ 104,000 Units started during August 48,000 Units completed and transferred in August 59,000 Work in process (70% complete), August 31 ? Costs charged to Work in Process in August Direct materials $ 141,000 Conversion costs: Direct labor $ 107,000...
The Mixing Department of Cherry Manufacturing Company has the following production and manufacturing cost data for...
The Mixing Department of Cherry Manufacturing Company has the following production and manufacturing cost data for January. Production: Beginning inventory 8,000 units that are 100% complete as to materials and 40% complete as to conversion costs; units started into production 27,000; ending inventory of 12,000 units 20% complete as to conversion costs. Manufacturing Costs: Beginning work in process inventory of $40,000, comprised of $30,000 of materials and $10,000 of conversion costs. Materials added during the month, $110,000; labor and overhead...
The Painting Department of Y Manufacturing Company has the following production and manufacturing cost data for...
The Painting Department of Y Manufacturing Company has the following production and manufacturing cost data for October. Production: Beginning inventory 8,000 units that are 100% complete as to materials and 40% complete as to conversion costs; units started into production 27,000; ending inventory of 12,000 units that are 20% complete as to conversion costs. Manufacturing Costs: Beginning work in process inventory of $40,000, comprised of $30,000 of materials and $10,000 of conversion costs. Materials added during the month, $110,000; labor...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
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, 60% complete as to materials and 40% complete as to conversion costs. The beginning inventory cost of $70,100 consisted of $50,800 of direct materials costs and $19,300 of conversion costs. During the month, the forming department started 400,000 units. At the end of the month, the forming department...
The Painting Department of Y Manufacturing Company has the following production and manufacturing cost data for...
The Painting Department of Y Manufacturing Company has the following production and manufacturing cost data for October. Production: Beginning inventory 8,000 units that are 100% complete as to materials and 40% complete as to conversion costs; units started into production 27,000; ending inventory of 12,000 units that are 20% complete as to conversion costs. Manufacturing Costs: Beginning work in process inventory of $40,000, comprised of $30,000 of materials and $10,000 of conversion costs. Materials added during the month, $110,000; labor...
The Converting Department of Hopkinsville Company had 760 units in work in process at the beginning...
The Converting Department of Hopkinsville Company had 760 units in work in process at the beginning of the period, which were 25% complete. During the period, 16,000 units were completed and transferred to the Packing Department. There were 840 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT