AF Home Paint Company produces exterior latex paint, which it sells in one-gallon containers. The company has two processing departmentsBase Fab and Finishing. White paint, which is used as a base for all the companys paints, is mixed from raw ingredients in the Base Fab Department. Pigments are then added to the basic white paint, the pigmented paint is squirted under pressure into one-gallon containers, and the containers are labeled and packed for shipping in the Finishing Department. Information relating to the companys operations for April follows: Issued raw materials for use in production: Base Fab Department, $851,000; and Finishing Department, $629,000. Incurred direct labor costs: Base Fab Department, $330,000; and Finishing Department, $270,000. Applied manufacturing overhead cost: Base Fab Department, $665,000; and Finishing Department, $405,000. Transferred basic white paint from the Base Fab Department to the Finishing Department, $1,850,000. Transferred paint that had been prepared for shipping from the Finishing Department to Finished Goods, $3,200,000.

Required: Determine the cost of ending work in process inventories and of units transferred out of the Finishing Department in April using the weighted average method. The following additional information is available regarding production in the Finishing Department during April: Production data: Units (gallons) in process, April 1: materials 25% complete; Labor and overhead 25% complete 30,000 Units (gallons) transferred in from Base Fab during April 370,000 Units (gallons) completed and transferred to Finished Goods 380,000 Units (gallons) in process, April 30: materials 40% complete; Labor and overhead 40% complete 20,000 Cost data: Work in process inventory, April 1: Base Fab Process Costs (transferred-in) $ 150,500 Materials $ 10,500 Labor 5,000 Overhead 7,500 Total cost of work in process inventory $ 173,500 Costs added during April: Base Fab Process Costs (transferred-in) $ 1,850,000 Materials 629,000 Labor 270,000 Overhead 405,000 Total cost added during April $3, 154,000 Prepare a cost reconciliation report for the Finishing Department for April. Repeat requirements 2 & 3 using a FIFO cost flow assumption for the Finishing Department.