Coral Industries operates several laminate flooring plants. Given the competitive pricing for flooring, Corals managers pay close attention to costs (Click the icon to view additional information.) The corporate controller has been pleased with the success of the company's benchmarking program. However, the corporate controller has recently received anonymous e-mails that a plant manager has been manipulating his quarterly estimates of percentage of completion in an attempt to obtain the bonus. The plant in question provided the following data: (Click the icon to view the data) Read the requiements Requirements 1 and 2. Recalculate the cost per equivalent unit, assuming the actual percentage of completion or ending work in process was 80% for direct materials and 50% for conversion costs. Based on the revised percentage of completion amounts, recalculate cost of goods completed and transferred out and the cost of ending work in process inventory. Start by recalculating the physical flow of units and output equivalents. Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted Average Method of Process Coating, Plant C of Coral Industries for Quarter 4, 2020 Equivalent Units Physical Units Direct Conversion Materials Costs Completed and transfered out during current period 25,000 25.000 25,000 Work in process, ending" (given) 7,000 7,000 80% 7,000 50% Accounted for Equivalent units of work done to date 5,600 3.500 32,000 30.600 28.500 "Degree of completion reported in this plant direct materials, 80%; conversion costs. 50% Recalculate the cost per equivalent unit amounts, cost of units completed and transferred out, cost of ending work in process inventory, and total costs accounted for, assuming the actual percentage of completion of ending work in process was 80% for direct materials and 50% for conversion costs. (Round per unit amounts to five decimal places, XXXXXXXX, and all other amounts to the nearest whole dollar.) Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work-in- Process inventory; Weighted-Average Method of Process Casting, Plant C of Coral Industries for Quarter 4, Costs incurred to date Divide by equivalent units of work done to date Cost per equivalent unit of work done to date Assignment of costs: Completed and transferred out (25,000 units) Work in process, ending (7,000 units) Total costs accounted for Data table 2020 Total Production Costs Direct Materials Conversion Costs 90000 156480 30600 28500 3.14 5.46 215000 (25,000x $3.13725) (25,000 x $5.45544) 60200 (5.600 $3.13725)|(3,500 $5.45544) 275200 96000 155480 Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Coral Industries for Quarter 4, 2020 Physical Units Equivalent Units Direct Conversion Materials Costs Completed and transferred out during current period 25,000 25,000 25,000 Work in process, ending" (given) 7,000 7,000 100%; 7,000 70% Accounted for Equivalent units of work done to date 7,000 4,900 32,000 32,000 29,900 *Degree of completion reported in this plant: direct materials, 100%; conversion costs, 70%. Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work- in-Process inventory; Weighted-Average Method of Process Costing, Plant C of Coral Industries for Quarter 4, 2020 Total Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work- in-Process inventory; Weighted-Average Method of Process Costing, Plant C of Coral Industries for Quarter 4, 2020 Total Production Costs $ Direct Materials Conversion Costs Costs incurred to date Divide by equivalent units of work done to date 96,000 $ 32,000 155,480 29,900 $ 3.00 $ 5.20 Cost per equivalent unit of work done to date Assignment of costs: Completed and transferred out (25,000 units) $ Work in process, ending (7,000 units) $ 205,000 46,480 251,480 $ (25,000 * $3.00) (7.000 x $3.00) (25,000 x $5.20) (4,900 x $5.20) 96,000 $ 155,480 Total costs accounted for