Fenton Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at Fenton has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly department's process. Fenton uses the FIFO method of process costing. Consider the following data for the assembly department in April 2017 (Click the icon to view the data.) (Click the icon to view the total costs assigned under the weighted average method.) Required X Data Table Total costs assigned under weighted average method -X Required Conversion Costs $2.916 1. Summarize total assembly department costs for April 2017, and assign them to units completed (and transferred out) and to units in ending work in process. 2. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted-average method and the FIFO method. Should Fenton's managers choose the weighted average method or the FIFO method? Explain briefly. Total Direct Conversion Production Costs Materials Costs 27.145 $ 15,130 $ 12,015 5,656 5,440 216 Physical Units Direct (Frames) Materials Work in process, April 10 120 $2,140 Started during April 2017 485 Completed during April 2017 445 Work in process, April 306 160 Total costs added during April 2017 $18,430 Degree of completion direct materials, 100%conversion costs, 40% Degree of completion direct materials, 100%; conversion costs, 5%. GA Completed and transferred out Work in process, ending $ 32,801 $ 20,570 $ 12,231 Total costs accounted for $9,315 Print Done Print Done Fenton Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at Fenton has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly department's process. Fenton uses the FIFO method of process costing. Consider the following data for the assembly department in April 2017 (Click the icon to view the data.) (Click the icon to view the total costs assigned under the weighted average method.) Required X Data Table Total costs assigned under weighted average method -X Required Conversion Costs $2.916 1. Summarize total assembly department costs for April 2017, and assign them to units completed (and transferred out) and to units in ending work in process. 2. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted-average method and the FIFO method. Should Fenton's managers choose the weighted average method or the FIFO method? Explain briefly. Total Direct Conversion Production Costs Materials Costs 27.145 $ 15,130 $ 12,015 5,656 5,440 216 Physical Units Direct (Frames) Materials Work in process, April 10 120 $2,140 Started during April 2017 485 Completed during April 2017 445 Work in process, April 306 160 Total costs added during April 2017 $18,430 Degree of completion direct materials, 100%conversion costs, 40% Degree of completion direct materials, 100%; conversion costs, 5%. GA Completed and transferred out Work in process, ending $ 32,801 $ 20,570 $ 12,231 Total costs accounted for $9,315 Print Done Print Done