Alternate Problem E17-24 (algo) Qu The assembly division of Gannett Watches, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: E (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units first, then calculate the equivalent units. Data Table X Physical Units Flow of Production Work in process beginning Started during current period Conversion Costs $71,250 To account for Completed and transferred out during current period Work in process, ending Physical Units Direct (Watches) Materials Beginning work in process (May 1) 75 $432,500 Started in May 2017 520 Completed during May 2017 470 Ending work in process (May 31) 125 Total costs added during May 2017 $3,225,000 a Degree of completion: direct materials, 80%, conversion costs, 35%. bDegree of completion direct materials, 64%; conversion costs, 32% $1,395,000 Accounted for Equivalent units of work done to date Print Done Alternate Problem E17-25 (algo) Question Help The assembly division of Gannett Watches, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: (Click the icon to view the data.) (Click the icon to view the equivalent unit compu Reference Read the requirement. Begin by summarizing the total costs to account for. Equivalent Unit Total Direct Conversion Physical Direct Conve! Production Costs Materials Costs Flow of Production Units Materials Cos Completed and transferred out during current period 480 480 145 Work in process, ending 116 Total costs to account for 625 Accounted for 596 Work done to date Requirement Data Table Summarize the total costs to account for calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to the units completed (and transferred out) and units in ending work in process. Conversion Costs $64,500 Print Done 525 Physical Units Direct (Watches) Materials Beginning work in process (May 1) 100 $738,600 Started in May 2017 Completed during May 2017 480 Ending work in process (May 31) 145 Total costs added during May 2017 $3,195,000 a Degree of completion: direct materials, 80%, conversion costs, 35%. bDegree of completion direct materials, 80%, conversion costs, 40%. Choose from any listorener any number in the inpunelds and then click Check Answer. $1,415,000 2 parts remaining Pearson E17-31 (algo) Question Help Cozy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Cozy uses the weighted average method of process costing. The following information for June 2017 is available. E: (Click the icon to view the information.) Data Table Read the requirements. Requirement 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs. (Enter a "0" for any Transferred-In Direct Conversion Physical Units (tons) Costs Materials Costs Equivalent Units Transferred-In Direct 85 $ 0 $ 76,500 $ Conversion 34,000 100% 0% 60% Costs Materials Costs Physical Units (tons) 85 120 120 Work in process, beginning inventory (June 1) Work in process, beginning inventory (June 1) Degree of completion, beginning work in process Transferred-in during June Completed and transferred out during June Work in process, ending inventory (June 30) Degree of completion, ending work in process Total costs added during June 135 Transferred in during June 70 To account for 100% 0% 70% Completed and transferred out during June Work in process, ending inventory (June 30) 135 70 $ 121,500 $ 30,375 $ 70,200 - X Accounted for Requirements Equivalent units work done to date 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs. 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. Enter any number in the edit fields and then click Check Answer. 3. Assign costs to units completed (and transferred out) and to units in endingctivate Windows work in process. Go to $etthas to activate Windows