3. Following table shows information of ABC Corp, which uses weighted average method in its process costing system. It has two departments in production process. The table shows data of the month of March for the first department Units 5,000 Materials $4,320 80% Labor $1,040 30% Conversion $1 790 90% Work in process inventory, beginning Completion of beginning work in process inventory Units started in process Units transferred out Work in process inventory, ending Cost added during the month Completion of ending work in process inventory 45,000 42.000 10,000 $62,800 80% $55,500 $90,000 45% 30% a. Calculate the first department's equivalent units of production for materials, labor, and conversion for the month and show each step of the calculation in detail (4 points) b. Calculate the first department's cost per equivalent unit for materials, labor, and conversion for the month and show each step of the calculation in detail. (4 points) e Compute the first department's cost of ending work in process inventory for materials, labor, and conversion, and in total for March (4 points) d. Compute the first department's cost of units transferred out to the second department for materials, labor, and conversion, and in total for March (4 points) e. Prepare a cost reconciliation report for the first department for March (points) 3. Following table shows information of ABC Corp, which uses weighted average method in its process costing system. It has two departments in production process. The table shows data of the month of March for the first department Units 5,000 Materials $4,320 80% Labor $1,040 30% Conversion $1 790 90% Work in process inventory, beginning Completion of beginning work in process inventory Units started in process Units transferred out Work in process inventory, ending Cost added during the month Completion of ending work in process inventory 45,000 42.000 10,000 $62,800 80% $55,500 $90,000 45% 30% a. Calculate the first department's equivalent units of production for materials, labor, and conversion for the month and show each step of the calculation in detail (4 points) b. Calculate the first department's cost per equivalent unit for materials, labor, and conversion for the month and show each step of the calculation in detail. (4 points) e Compute the first department's cost of ending work in process inventory for materials, labor, and conversion, and in total for March (4 points) d. Compute the first department's cost of units transferred out to the second department for materials, labor, and conversion, and in total for March (4 points) e. Prepare a cost reconciliation report for the first department for March (points)
