Hendrix Furniture uses a process cost system to account for its guitar factory. Beginning inventory consisted of 12,000 units (

90%

complete as to material,

52%

complete as to labor) with a cost of

$214,750

for materials and

$204,250

conversion. 63,000 units were started into production during the month with material costs of

$1,935,285

and

$2,575,375

of conversion costs. The ending inventory of 11,000 chairs was

87%

complete as to materials and

49%

complete as to labor. (Show all calculations for full credit, and round to the nearest cent). Required: Part 1: Using the weighted average costing method, prepare a full production cost report and answer the following: a. Compute the equivalent units of production for each input. b. Compute the cost per unit. c. Compute the cost transferred out to finished goods. d. Compute the ending work in process inventory balance. Part 2: Using the FIFO (first-in-first-out method), prepare a full production cost report and answer the following: a. Compute the equivalent units of production for each input. b. Compute the cost per unit. c. Compute the cost transferred out to finished goods. d. Compute the ending work in process inventory balance. I need answer in excel please Thank you