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 26,000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $62,100 consisted of $46,000 of direct material costs and $16,100 of conversion cost. During the month, the forming department started 320,000 units. At the end of the month, the forming department had 32,000 units in ending inventory, 90% complete as to materials and 40% complete as to conversion. Units completed in the forming department are transferred to the painting department.
Cost information for the forming department is as follows:
Beginning work in process inventory $ 62,100
Direct materials added during the month 1,393,760
Conversion added during the month 800,900
1. Calculate the equivalent units of production for the forming department. Direct Materials Conversion
2. Calculate the costs per equivalent unit of production for the forming department. (Round your answer to 2 decimal places.) EUP EUP Direct Materials Conversion

1.  Direct Materials = 342,800, Conversion = 326,800

2. Direct Materials = $4.20,  Conversion = $2.50,  Total = $6.70

Explanation:

Calculation of equivalent units of production for the forming department.

First Calculate the Units Completed and Transferred to the Painting department.

Units Completed and Transferred to the Painting department = 26,000 + 320,000 - 32,000 = 314,000

Direct Materials

Units Completed and Transferred to the Painting department = 314,000

Units in Closing Work In Process (32,000 × 90%)                      =   28,800

Total Equivalent Units                                                                   = 342,800

Conversion

Units Completed and Transferred to the Painting department = 314,000

Units in Closing Work In Process (32,000 × 40%)                      =    12,800

Total Equivalent Units                                                                   = 326,800

Calculation of the costs per equivalent unit of production for the forming department.

First calculate the costs incurred during the period for both Direct Materials and Conversion.

Direct Materials

Costs in Opening Work In Process  =     $46,000

Costs Added during the Period       =  $1,393,760

Total Costs                                         = $1,439,760

Conversion

Costs in Opening Work In Process  =      $16,100

Costs Added during the Period       =   $800,900

Total Costs                                         =   $817,000

Then calculate the cost per equivalent unit of production for both Direct Materials and Conversion.

Cost per equivalent unit = Total Costs / Total Equivalent Units

Direct Materials ($1,439,760 / 342,800) =  $4.20

Conversion ($817,000 / 326,800)           =  $2.50

Total                                                          =   $6.70

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