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Exercise 5S-3 (Static) Assigning Costs to Units-FIFO Method [LO 5S-8] Data concerning a recent period's activity in the Assembly Department, the first processing department in
Exercise 5S-3 (Static) Assigning Costs to Units-FIFO Method [LO 5S-8] Data concerning a recent period's activity in the Assembly Department, the first processing department in a company that uses the FifO method in its process costing. appear below A total of 26,000 units were completed and transferced to the next processing departmient duang the pefiod Beginning work in Required: 1. Compute the Assembly Departments cost of ending Woik in processigventory for materias coversion and in toto for the period the penod. Equivalent units' in the ending work in procss inventory Equivalent units required to conplete the beginning work in process inventory cost per equivalent unit for the pertad 400600$2.322001,20050.75 A total of 26,000 units were completed and transferred to the next processing departmegt during the penod. Beginning work in process inventory consisted of 2,000 units and ending work in process inventory consisted of 1,000 units. Required: 1. Compute the Assembly Department's cost of ending work in process inventory for materials, conversion, and in total for the petiod 2. Compute the Assembly Department's cost of units transferred out to the next department for materials, conversion, and in total for the period
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