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

question 103

Essay

(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.

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