"I think we goofed when we hired that new assistant controller," said Ruth Scarpino, president of Provost Industries. "Just look at this report that he prepared for last month for the Finishing Department. I can't understand it." Finishing Department costs: Work in process inventory, April 1, 1,100 units; materials 100% complete; conversion 88% complete $ 8,629* Costs transferred in during the month from the preceding department, 2,600 units 28,673 Materials cost added during the month 11,657 Conversion costs incurred during the month 24,430 Total departmental costs $ 73,389 Finishing Department costs assigned to: Units completed and transferred to finished goods, 3,100 units at $23.670 per unit $ 73,389 Work in process inventory, April 30, 600 units; materials 0% complete; conversion 40% complete 0 $ 73,389 Total departmental costs assigned *Consists of cost transferred in, $4,294, materials cost, $2,045; and conversion cost, $2,290. "He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is that he's been away from process costing for a long time, and it's coming back slowly." "It's not just the format of his report that I'm concerned about Look at that $23.670 unit cost that he's come up with for April. Doesn't that seem high to you?" said Ms. Scarpino. "Yes, it does seem high; but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr. Harrop. "I'll get someone else to redo this report and then we can see what's going on." Provost Industries manufactures a ceramic product that goes through two processing departments-Molding and Finishing The company uses the weighted average method in its process costing, Required: 1-a. Calculate the equivalent units of production. 1-b. Calculate the cost per equivalent unit. (Round your answers to 2 decimal places.) 1-c. How much cost should have been assigned to the ending work in process inventory? (Round your intermediate calculations to 2 decimal places.) 1-d. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places.) W WA mocion Total "Yes, it does seem high; but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr. Harrop. Till get someone else to redo this report and then we can see what's going on." Provost Industries manufactures a ceramic product that goes through two processing departments-Molding and Finishing. The company uses the weighted average method in its process costing. Required: 1-a. Calculate the equivalent units of production. 1-b. Calculate the cost per equivalent unit. (Round your answers to 2 decimal places.) 1-c. How much cost should have been assigned to the ending work in process inventory? (Round your intermediate calculations to 2 decimal places.) 1-d. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places.) Transferred In Costs Materials Conversion Total $ 0 1-a. Equivalent units of production 1-b. Cost per equivalent unit 1-c. Cost of ending work in process inventory 1-d. Cost of units completed and transferred out $ 0 Hutchcroft Corporation uses the weighted average method in its process costing. The following data concern the company's Assembly Department for the month of June. Cost per equivalent unit Equivalent units in ending work in process Materials $ 29.89 1,189 Conversion $ 32.60 500 During the month, 7,300 units were completed and transferred from the Assembly Department to the next department. Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted average method. (Round your answ to 2 decimal places.) Materials Conversion Cost of ending work in process inventory Cost of units completed and transferred out