Maurice Tutor

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Category > Accounting Posted 22 Jul 2017 My Price 9.00

Fordman Company

WEIGHTED AVERAGE METHOD, EQUIVALENT UNITS, UNIT COST, MULTIPLE DEPARTMENTS Fordman Company has a product that passes through two processes: grinding and polishing. During December, the grinding department transferred 20,000 units to the polishing department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (polishing) had the following physical flow schedule for December:

Units to account for:

 

Units, beginning work in process Units started

4,000 (40% complete) ?

Total units to account for

?

Units accounted for:

  

Units, ending work in process Units completed

8,000 (50% complete) ?

Units accounted for

?

Costs in beginning work in process for the polishing department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $8,000. Costs added during the month: materials, $32,000; conversion costs, $50,000; and transferred in, $40,000.

Required:

1. Assuming the use of the weighted average method, prepare a schedule of equivalent units.

2. Compute the unit cost for the month.

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 09:07 PM My Price 9.00

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