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could you please complete this thank you Metlock Industries works hard to keep pace with demand for its modern chandelier. To get it out the
could you please complete this thank you
Metlock Industries works hard to keep pace with demand for its modern chandelier. To get it out the door, Metlock first machines raw materials into key component parts. Next, the component parts are assembled. These two processing departments work together, coordinating the output from the machining process into the assembly process. All DM resources are added at the beginning of the machining process, while conversion costs are added evenly throughout the process. For May, the following information was available for the machining process. Determine the total cost of units completed and the cost of units in ending WIP Inventory-Machining in May by completing Steps 1-5 of the template, assuming Metlock Industries uses the FIFO method of process costing. Total cost of units completed $ Cost of units in ending WIP Inventory b) Determine the total cost of units completed and the cost of units in ending WIP Inventory-Machining in May by completing Steps 1-5 of the template, assuming Ellen Industries uses the weighted-average method of process costing. c) Record the journal entry to account for the transfer of units completed out of the WIP Inventory-Machining account consistent with (1) the FIFO method and (2) the weighted-average method Step by Step Solution
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