Here is the information for 17-31. Already answered 17-31. Now need 17-33 answered as a FIFO method of process costing explaining the difference between the weight average method and FIFO between these 2 problems. The explain which method should Larsen use Weighted average or FIFO. Thank you, having a challenge with this one.

Here is my answers for 17-31. Thank you.

U of process costing, compute equivalent units of work done for each relevant month of May 17-31 weighted average method. Larsen Company manufactures car seats in its San Antonio plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department The process-costing system at Larsen Company has a single direct-cost category (direct materials and a single indirect-cost category (conversion costs. Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the assembly department finishes work on each car seat, itis immediately transferred to testing. Larsen Company uses the weighted-average method of process costing. Data for the assembly depart- ment October 2014 are as follows Conversion Physical Units Direct Materials (Car Seats) $1,250.000 402,750 Work in process, 0ctober 13 5,000 20,000 Started during October 2014 22,500 Completed during October 2014 2,500 Work in process, 0ctober 31 $4,500,000 $2,337,500 Total costs added during 0ctober 2014 Degree of completion: direct materials,?%; conversion costs, 60%. Degree of completion: direct materials,?%; conversion costs, 70% 1. For each cost category, compute equivalent units in the assembly department. Show physical units in ieaured the first column of your schedule. 2. What issues should the manager focus on when reviewing the equivalent units calculation? 3. For each cost category, summarize total assembly department costs for 0ctober 2014 and calculate the cost per equivalent unit. Assign costs to units completed and transferred out and to units in ending workin process. 17-32 Journal entries (continuation of 17-31). Prepare a set of summarized journal entries for all 0ctober 2014 transactions affecting Work in Process- Required Assembly. Set up a T-account for Work in Process-Assembly and post your entries to it. 17-33 FIFO method (continuation of 17-311. 1. Do Problem 17.31 using the FlF0 method of process costing. Explain any difference between the cost per equivalent unit in the assembly department under the weighted-average method and the FlF0 method 2. Should Larsen's managers choose the weighted-average method or the FIFO method? Explain briefly 17.34 Transferred-in costs, weighted-average method (related to 17.31 to 17-33). Larsen Company rer of car seats Each car seat nasses th gh the assembly department and as volt knnw is a manufact