1. Assume there was no beginning inventory of any kind on January 1,2020. During January, 10,000 cameras were placed into production and all 10,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February, but only 9,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 1,000 cameras. However, on average, these remaining 1,000 cameras are only 60\% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020? Panagra, Inc. manufactures digital cameras. It has two departments: assembly and testing. In January 2020 , the company incurred $775,000 on direct materials and $816,000 on conversion costs, for a total manufacturing cost of $1,591,000. Read the requirements. Requirement 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February, but only 9,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 1,000 cameras. However, on average, these remaining 1,000 cameras are only 60% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020 ? (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? First calculate the equivalent units. Requirement 2. Assume that during February 10,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February, but only 9,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 1,000 cameras. However, on average, these remaining 1,000 cameras are only 60% complete as to conversion costs. (a) What afe the equivalent units for direct materiais and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled cameras in February 2020 ? (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? First calculate the equivalent units. Now calculate the direct materials and conversion costs per equivalent unit for February. (Round your answers to the nearest cent.) Now calculate the direct materials and conversion costs per equivalent unit for February. (Round your answers to the nearest cent.) (b) What is the unit cost of an assembled camera in February 2020 ? (Round your answers to the nearest cent.) Assembly department cost per unit Requirement 3. Explain the difference in your answers to requirements 1 and 2. The difference in the assembly department cost per unit calculated in requirements 1 and 2 arises because the costs incurred in January and February are the same but equivalent units of work are done in February relative to January. In January, all 10,000 units introduced are fully completed resulting in 10,000 but lnF more The difference in the assembly department cc ses because the costs incurred in January and February are the same but equivalent units of work are done , 000 units introduced are fully completed resulting in 10,000 equivalent units of work done with respect to In February, of the 10,000 units introduced, 10,000 equivalent units of work is done with respect to but only equivalent units of work is done with respect to s to requirements 1 and 2 conversion costs jit calculated in requirements 1 and 2 arises because the costs incurred in January and February are the same direct materials arv relative to January: In January, all 10,000 units introduced are fully completed resulting in 10,000 uivalent units of work is done with respect to but only: equivalent units of work is done with respect to The assembly depaitment cost per unit is, therefore, Assembly department cost per unit 5 to requirements 1 and 2 . iit calculated in requirements 1 and 2 arises because the costs incurred in January and February are the same conversion costs larvirelative to January. In January, all 10,000 units introduced are fully completed resulting in 10,000 direct materials direct materials and conversion costs Uivalent units of work is done with respect to equivalent units of work is done with respect to The assembly department cost per unit is, therefore, Requirement 3. Explain the difference in your answers to requirements 1 and 2. The difference in the assembly department cost per unit calculated in requirements 1 and 2 arises because the costs incurred in January and February are the same put ant misalant inite af iwarl so dano in February relative to January. In January, all 10,000 units introduced are fully campleted resulting in 10,000 higher. J00 equivalent units of work is done withrespect to but only equivalentunits of work is done with respect to The assembly department cost per unit is, therefore