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Fifo method answer please part 1 and part b Question 5 Weighted-average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every

image text in transcribedFifo method answer please part 1 and part b
Question 5 Weighted-average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture framo passes through two departments the assembly department and the finishing This plotiem focoses on the assembly department. The process-costing system at McKnight has a single direct-oost outegory the assembly department process is 10% complete. Conversion costs are added evenly McKnight uses the weighted-average method of process costing. Consider the fodowng dana sor the assembly department in April 2014 Plinical Unit Direct canvasion (Frames) Work in process, April 1 Started during April 2014 Completed during April 2014 Work in process, April 30b Total costs added during April 2014 "Degree of completion direct materials, 100% oonversion costs, 40% Required 1. Summarize the total assembly department costs for Apr 2014, and assion them to u comple od (and transferred out and 1o units in ending 2. What issues should a manager focus on when reviewing the equewalent units tot? Question 6 FIFo method (continuation of os). 1. Complete Q5 the FIFQ method of process co ting 2. if you did Q5, explain any dimorenco the cost of work bomnieled and thanssumed oA aid cost of ending work in process on the assambly department under the waightes overaga memod and FIFO Should MoKnights managers choose the weg ted stage motmod or method Explain briely

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