(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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Definitions:

Calcium Supplement

Dietary supplements taken to ensure adequate intake of calcium, a vital mineral for bone health and proper functioning of the heart and muscles.

Hard Cheese

A type of cheese that has a firm texture and is often aged longer, resulting in a sharper and more pronounced flavor.

Methylphenidate

A central nervous system stimulant medication commonly used to treat Attention Deficit Hyperactivity Disorder (ADHD) and certain sleep disorders.

Nervousness

The feeling of being anxious, tense, or worried, often in anticipation of an event or in response to a stressful situation.