Assignment Costing Methods - Word christopher verma 0 X File Home Insert Design Layout References Mailings Review View Help Ginger Tell me what you want to do & Share do Cut Calibri (Headings) * 24 - A A Aa Find ~ AaBbCCI AaBbCcI AaBl AaBb AaBbC, AaBbCCD AaBbCCD Ad B AaBbCcI AaBbCc[ AaBbCCC AaBbCc[ AaBbCc] G BE Copy abc Replace Paste Format Painter BIU~ abe X2 X' AZZ 1 Normal 1 No Spac.. Heading 1 Heading 2 Heading 3 Heading 4 Heading 5 Title Subtitle Subtle Em... Emphasis Intense E... Strong Select Ginger Clipboard Font Paragraph Styles Editing Ginger Tools . . I .. . . . 1 . . . 5 . . . 1 . . . 6 . . . 1 . . . . . 7. Assume that Concrete Creations used the FIFO method rather than the weighted average method Assignment: Costing Methods in its process costing system. Calculate the total cost of ending work in process inventory as well as total cost of units transferred out for May. Scenario 8. Assume that Concrete Creations used the FIFO method rather than the weighted average method n its process costing system. Prepare a cost reconciliation report for the Forming Department for Concrete Creations manufactures concrete bird baths that are sold through retail outlets May. nationwide. The bird baths are made in a two-stage process. In the Forming Department, the 9. Compare the two cost reconciliation reports (weighted average and FIFO). Identify and comment concrete is poured into silicone molds where it is allowed to cure and set. Once set, the birdbaths on any significant differences between the two reports. If you were a manager at Concrete are removed from the mold and sent to the Finishing Department where any imperfections are Creations, which approach would you recommend and why? Be sure to identify the advantages removed and the birdbaths are sprayed with a special sealant. and disadvantages to both approaches when making your analysis. Information for the Forming Department for the month of May is provided below. Percent Complete Units Materials Conversion Process, Be 10,00 100% 60% Started into Production 90,000 Completed and Transferred Out 80,000 Work in Process, Ending 20,000 100% 40% Materials Conversion Work in Process, beginning 12,600 12,400 Cost added during period 167,400 119,350 Questions 1. Assume that Concrete Creations uses the weighted-average method for cost allocation. Determine the equivalent units of production for the Forming Department for the month of May. 2. Assume that Concrete Creations uses the weighted-average method for cost allocation. Compute the cost per equivalent units of production for the Forming Department 3. Assume that Concrete Creations uses the weighted-average method for cost allocation. Calculate the total cost of ending work in process inventory as well as total cost of units transferred out for May. 4. Assume that Concrete Creations uses the weighted-average method for cost allocation. Prepare a cost reconciliation report for the Forming Department for May. 5. Assume that Concrete Creations used the FIFO method rather than the weighted average method in its process costing system. Determine the equivalent units of production for the Forming Department for the month of May. 6. Assume that Concrete Creations used the FIFO method rather than the weighted average method in its process costing system. Compute the cost per equivalent units of production for the Forming Department. Page 1 of 2 386 words OF - + 100% Type here to search O G W 12OF Clear ~ ( 2 ( 4) 7:19 PM 1/26/2022