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Consider the following data for the assembly division of Cranberry Watches, Inc. The assembly division uses the weighted average method of process costing. Physical units Direct materials (Watches) Conversion costs Beginning work in process inventory (July 1) 5600 $45200 $23700 Started in July, 2016 44000 Completed during July, 2016 44700 Ending work in process inventory (July 31) 4900 Costs added during July, 2016 $150200 $272800 The beginning work in process was 55 percent complete as to direct materials and 35 percent complete as to conversion costs. The ending work in process was 90 percent percent complete for conversion costs. a) Prepare a weighted average process costing report for Cranberry (all 5 steps) b) Assume instead that Cranberry uses the filo cost flow assumption. Compute the equivalent units for direct materials and for conversion costs. (step 2 only) Consider the following data for the assembly division of Cranberry Watches, Inc. The assembly division uses the weighted average method of process costing Physical units Watches) Conversion costs Direct materials $45200 5600 $23700 Beginning work in process inventory Oy 11 Started in 2016 44000 Completed duringly, 2016 44700 Ending work in process inventory july 31) 4900 Costs added during 2016 $150200 $272800 The beginning work in process was 55 percent complete as to direct materials and 35 percent complete as to conversion costs. The ending work in process was 90 percent complete for direct materials and 80 percent complete for conversion costs al Prepare a weighted average process costing report for Cranberry. (all steps) bi Assume instead that Cranberry uses the lo cost flow assumption Compute the equivalent units for direct materials and for conversion costs. (step 2 only) TTTT Paragraph Antal #31120 3.1. T. {