Homework: Chapter 18 Homework Assignment Save Score: 0.82 of 1 pt 1 of 1 (1 complete) HW Score: 82.22%, 0.82 of 1 pt * P18-36A (similar to) Question Help WaterWorthy uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. i (Click the icon to view additional information.) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. WaterWorthy uses weighted average process costing Read the requirements Requirement 1. Prepare a production cost report for the Testing Department. (Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP equivalent units of production) WaterWorthy Production Cost Report-Testing Department Month Ended August 31 Equivalent Units Physical Transferred Direct Conversion Units In Materials Costs UNITS Units to account for: Beginning work-in-process Transferred in 2,200 6.800 9,000 Total units to account for Units accounted for Completed and transferred out Ending work-in-process 3,600 5,400 9,000 3,600 5.400 9.000 n/a nia 3.600 2.160 5,760 Total units accounted for Transferred Direct Materials Conversion Costs Total Costs COSTS in $ $ Costs to account for Beginning work-in-process Costs added during the period Total costs to account for Divided by: Total EUP na na 96,000 696,000 792,000 9,000 88.00 21,000 $ 36,600 57,600 $ 5,760 117,000 732,600 849,600 $ $ na na na Cost per equivalent unit $ 10.00 Costs accounted for: Ending work-in-process $ $ Completed and transferred out 475,200 316,800 792.000 wa na na 21,600 $ 496,800 36,000 352,800 57.600 $ 849.600 $ Total costs accounted for Requirement 2. What is the cost per unit for its completed and transferred out to Finished Goods Inventory? Why would management be interested in this cost? The cost per unit for lifts completed and transferred out to Finished Goods Inventory is $ per lift