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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.
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