Question

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 28,000 units in inventory, 65% complete as to materials and 35% complete as to conversion costs. the beginning inventory cost of $66,100 consisted of $48,400 of direct material costs and $17,700 of conversion cost.

Answer 1

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. ... Units completed in the forming department are transferred to the painting department.