Any help is appreciated! All boxes with blue border are the ones that need to be filled!
Smith Electronic Company's chip-mounting production department had 300 units of unfinished product, each 50% completed on September 30. During October of the same year, this department put another 900 units into production and completed 1,000 units and transferred them to the next production department. At the end of October, 200 units of unfinished product, 70% completed, were recorded in the ending Work-in-Process Inventory. Smith Electronic introduces all direct materials when the production process is 50% complete. Direct labor and factory overhead (i.e., conversion) costs are added uniformly throughout the process.
Following is a summary of production costs incurred during October:
\fRequirement #2: SMITH ELECTRONIC COMPANY Chip-Mounting Production Department Weighted-Average Production Cost Report Production Quantity Information Step 1: Analyze Flow of Physical Step 2: Calculate Equivalent Units Units Physical Units Completion Direct Percentage Materials Conversion Input Beginning work-in-process inventory Direct materials Conversion Started this period Total to account for 0 Output Completed % Ending work-in-process inventory Completion percentage Direct materials % Conversion % Total accounted for 0 Total work done to date (Total equivalent units) 0 Unit Cost Determination Unit Cost Determination Step 3: Determine Costs to Account for Total Direct Conversion Materials Costs Total Beginning work-in-process inventory Current costs Total costs to account for $ 0 $ 0 $ 0 Step 4: Compute Unit Costs Cost per equivalent unit Cost Assignment Step 5: Assign Total Manufacturing Costs Completed and Ending Work- Transferred Out in-Process Total Units completed and transferred out Ending work-in-process Materials Conversion Total costs accounted for 0 $ 0Requirement #3: Direct Materials Conversion a. Equivalent units b. Equivalent unit costs C. Cost of goods completed and transferred out d. Cost of work-in-processRequirement #4: SMITH ELECTRONIC COMPANY Chip-Mounting Production Department FIFO Production Cost Report Production Quantity Information Step 1: Analyze Step 2: Flow of Physical Calculate Units Equivalent Units Physical Units Direct Conversion Materials Costs Input Beginning work-in-process inventory Completion percentage Direct materials Conversion Started this period Total units to account for 0 Output Completed Ending work-in-process inventory Completion percentage Direct materials Conversion Total units accounted for 0 0 0 Total work performed to date Beainning work-in-process inventory Beginning work-in-process inventory Total work performed this period (FIFO equivalent units) 0 0 Unit Cost Determination Step 3: Determine Total Costs to Account for Flow Direct Materials Conversion Total Costs Beginning work-in-process inventory Current cost Total costs to account for $ o $ o $ 0 Step 4: Compute Unit Costs Cost per equivalent unitCost Assignment Step 5: Assign Total Manufacturing Costs Completed and Ending Work- Transferred Out Total in-Process Units completed and transferred out Beginning work-in-process Current cost to complete Materials Conversion Total from beginning work-in-process 0 $ 0 Units started and finished Total cost completed and transferred out Ending work-in-process Materials Conversion Total costs accounted for 0 0
