2 3 The Unity Company is a manufacturer of specialized pens. There are two departments: assembly and finishing. This problem focuses on the finishing 4 department. Pens that have undergone the assembly process are then transferred to the finishing department S 6 Direct materials are added when the assembly department is 70% complete. Conversion costs are added evenly during the finishing process. When the 7 finishing process is done, the pens are transferred to finished goods. 8 9 Consider the following data to respond to the requirements: 10 Physical Units Transferred In Direct Conversion 11 (pens) Costs Materials Costs 2 Beginning WIP 3,500 $ 9,072 $ $ 17,600 3. Transferred-in during the period 11,200 4. Completed and transferred out during the period 10,400 5 Ending Wip 4,300 6 Total costs added during the period $ 30,912 $ 5,616 S 17,862 7 Required: Using the weighted average method of processing costing, summarize the total finishing department costs for the period, assign these costs to units completed (transferred out), and to units in ending WIP. Beginning WIP: Transferred-in costs - 100%, Direct Materials = 0%, Conversion Costs = 60% Ending WIP: Transferred-in costs = 100%, Direct Materials = 0%. Conversion Costs = 20%