Chronos Watches Ltd. The company designs and builds specialty time pieces. The following data is from the Assembly department for the most recent month. Watches

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Chronos Watches Ltd. The company designs and builds specialty time pieces. The following data is from the Assembly department for the most recent month. Watches Direct Materials $ % Direct Labour $ % Production Overhead $ % Beginning Work In Process 500 12,000 80% 5,000 50% 1,000 20% Current period 118,800 79,800 40,200 Completed during the period 4,000 Ending Work In Process 400 90% 60% 30% 1. What was the number of watches started in the period? Show your work. ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ 2. What is the total production cost for the period to account for in the Assembly department? ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ 3. What two inventory accounts do the period's cost of production get allocated to at period end? ___________________________________________________________________________________________ ___________________________________________________________________________________________ 4. What are the equivalent units of production for the period? Circle the correct response (A, B, C, D or E). Direct Materials Direct Labour Overhead A 4,100 4,250 4,400 B 4,360 4,150 4,300 C 4,260 4,140 4,020 D 4,360 4,240 4,120 E 4,400 4,250 4,100