"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 27,000 units in inventory, 70% complete as to materials and 30% complete" as to conversion costs. The beginning inventory cost of $56,100 consisted of $40,000 of direct materials costs and $16,100 of conversion costs.

During the month, the forming department started 320,000 units. At the end of the month, the forming department had 35,000 units in ending inventory, 80% 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 $64,100
Direct materials added during the month 1,545,160
Conversion added during the month 914,330

Calculate the equivalent units of production for the forming department.

Explanation:

The computation of the equivalent units of production for the forming department is shown below:

Units started and completed units

= Beginning inventory units + started units - ending inventory units

= 27,000 units + 320,000 units - 35,000 units

= 312,000 units

For Material cost

= Units started and completed units × completion percentage + ending inventory units × completion percentage

= 312,000 units × 100% + 35,000 units × 80%

= 312,000 units + 28,000 units

= 340,000 units

For Conversion cost

= Units started and completed units × completion percentage + ending inventory units × completion percentage

= 312,000 units × 100% + 35,000 units × 40%

= 312,000 units + 14,000 units

= 326,000 units

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