17-36 Weighted-average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly departments process. McKnight uses the weighted-average method of process costing. Consider the following data for the assembly department in April 2014: Physical Unit (Frames) Direct Materials Conversion Costs Work in process, April 1a 60 $ 1,530 $ 156 Started during April 2014 510 Completed during April 2014 450 Work in process, April 30b 120 Total costs added during April 2014 $17,850 $11,544 aDegree of completion: direct materials, 100%; conversion costs, 40%. bDegree of completion: direct materials, 100%; conversion costs, 15%. 1. Summarize the total assembly department costs for April 2014, and assign them to units completed (and transferred out) and to units in ending work in process.

I can do first question, please elaborate the 2, 3, 4. Thank you. 2. What issues should a manager focus on when reviewing the equivalent units calculation?

3. Complete Problem 17-36 using the FIFO method of process costing. 4 . If you did Problem 17-36, explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted-average method and the FIFO method. Should McKnights managers choose the weighted-average method or the FIFO method? Explain briefly.

17-36 Weighted-average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs) Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly department's process. McKnight uses the weighted-average method of process costing. Consider the following data for the assembly department in April 2014: Physical Unit (Frames) 60 510 450 Direct Materials $ 1,530 Conversion Costs Work in process, April 1a Started during April 2014 Completed during April 2014 Work in process, April 30 Total costs added during April 2014 $ 156 $17,850 $11,544 Degree of completion: direct materials, 100%, conversion costs, 40%. bDegree of completion: direct materials, 100%; conversion costs, 15%. 1. Summarize the total assembly department costs for April 2014, and assign them to units completed (and transferred out) and to units in ending work in process. 2. What issues should a manager focus on when reviewing the equivalent units calculation