Consider the following data for April 2021 from Maddison Manufacturing Company, which makes silk pennants and uses the average process costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of a zero net disposal value. Units Materials Costs WIP, April 1 Started in April C and T Normal lost units Abnormal lost units WIP, April 30 Costs added during April Stage of Completion of Work in Process Materials Conversion Costs Physical Direct Conversion 1,000 P14, 230 P11, 100 ? 9,000 100 50 2,000 P121, 180 P277, 500 Beginning 100% 50% Ending 100% 30% Requirements: 1. What is the cost per equivalent unit for (1) materials and (2) conversion costs? 2. What is the cost of the units completed and transferred out to the next department? 3. What is the cost of the units in ending work in process? 4. What is the cost assigned to abnormal lost units? 5. Assuming that Maddison uses the FIFO process costing method instead of the average method, what are the equivalent units for (1) materials and (2) conversion cost? 6. Assuming that Maddison uses the FIFO process costing method instead of the average method, what are the cost per equivalent unit for (1) materials and (2) conversion costs (rounded)? 7. Assuming that Maddison uses the FIFO process costing method instead of the average method, what is the cost of the units completed and transferred to next department? Problem #1 Medibang, Inc. uses a process costing system to accumulate costs related to silk scarf production. Selected data for scarf production for last quarter is provided below: Units cost, FIFO method FIFO equivalent units Cost in beginning work in process Total cost to be accounted for Materials ? 4,200 P 630 P 24, 780 Requirement: What are the unknown amounts? Conversion cost P 2.25 4,500 P 270 ?? Problem #2 Rowland Inc. uses a process costing system. The following data are available for one department for October 2021: PERCENT COMPLETE UNITS MATERIALS CONVERSION COST Work in process, beg. 10,000 60% 30% Work in process, end 5,000 80% 70% The department started 45,000 units into production during the month and completed and transferred 50,000 units to the next department. Requirement: 1. Assuming a weighted-average method of accounting for units and costs, the equivalent units for material for October 2021 would be