Accounting-Assign total costs to the units in the ending work in process inventory .

Cost AccountingThis problem focuses on the Assembly Department of a manufacturing operation. Directmaterials are added at the end of the process. Direct labor and overhead (referred tocollectively as conversion costs) are added evenly throughout the process. When the AssemblyDepartment finishes work on each unit is immediately transferred to the Testing Department.The company uses the weighted average method of process costing. Data for October follows:Physical UnitsWork in process October 14,500Started during October$1,200,000$400,000$5,000,000$2,500,00025,000Completed during OctoberDirect Materials Conversion Costs22,000Work in process, October 317,500Total costs added during OctoberBeginning Inventory degree of completion – 70%Ending Inventory degree of completion – 60%1.Compute equivalent units with respect to direct materials for October.2. Compute equivalent units with respect to conversion costs for October.3. Summarize total Assembly Department costs and calculate the cost per equivalent unit forDirect Materials.4. Summarize total Assembly Department costs and calculate the cost per equivalent unit forConversion Costs.5. Assign total costs to the units completed and transferred out.6. Assign total costs to the units in the ending work in process inventory .For questions 7 through 12 begin again and assume the FIFO method of process costing7. Compute equivalent units with respect to direct materials for October.8. Compute equivalent units with respect to conversion costs for October.9. Summarize total Assembly Department costs and calculate the cost per equivalent unit forDirect Materials.10. Summarize total Assembly Department costs and calculate the cost per equivalent unit forConversion Costs.11. Assign total costs to the units completed and transferred out.12. Assign total costs to the units in the ending work in process inventory.

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