IMG_4740.jpeg Open with Preview The assembly division of Fenton Watches, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017 :: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Requirement Summarize the total costs to account for calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed (and transferred out) and to units in ending work in process. Begin by summarizing the total costs to account for Total Direct Conversion Production Costs Materials Costs Total costs to account for Next, calculate cost per equivalent unit for direct materials and conversion costs. Direct Conversion Materials Costs Divide by Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process (WIP). Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. Total Direct Conversion Costs Production Costs Materials Completed and transferred out: Data table Step-down allocation data Support Departments Human Information Resources Systems Operating Departments Corporate Consumer Sales Sales $ 85,000 $ 250,000 $ 990,000 S 495,000 Budgnted costs incurred before any interdepartment cost allocations Support work supplied by human resources department Budgeted rwmorroiemployees Support work supplied by information Bystems department Budgated processing time lir minutes) Support Departments Operating Departments HR Info Systems Corporate Consumer Tot Costs incurred $ 65,000 $ 260,000 $ 990,000 $ 495,000 $ 1,810 Allocation of HR costs (65,000) 13,000 28.600 23,400 $ 0 273,000 (273,000) 148,370 Allocation of Info Systems costs 124,630 $ 0 $ 1,166,970 S 843,030 $ 1,810, Total budgeted costs of operating departments "Proportions for services provided to other support onpartments human resources (HR), 0.20000, information Syfers is 0.06000 20 44 38 320 2,000 1,800 Print Done Direct allocation data procal method. (Round proportions to live decimal places, Xxxxx, and your final answers to the nearest Cosa noua Niacalur HR COM Nocation of Wro Systems casts Total budap CONTA Of operating depart Support Departments Operating Departments HR Into. Systems Corporate Consumer Total 3 65.000 280,000 $ gan.Dou S 485003 S 1,810,000 (05.000 35,750 29.250 1280,003) 141,305 118,00 0$ I! $ 1,167,055 S 642,045 3 1 810,CO IMG_4740.jpeg Open with Preview The assembly division of Fenton Watches, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017 :: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Requirement Summarize the total costs to account for calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed (and transferred out) and to units in ending work in process. Begin by summarizing the total costs to account for Total Direct Conversion Production Costs Materials Costs Total costs to account for Next, calculate cost per equivalent unit for direct materials and conversion costs. Direct Conversion Materials Costs Divide by Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process (WIP). Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. Total Direct Conversion Costs Production Costs Materials Completed and transferred out: Data table Step-down allocation data Support Departments Human Information Resources Systems Operating Departments Corporate Consumer Sales Sales $ 85,000 $ 250,000 $ 990,000 S 495,000 Budgnted costs incurred before any interdepartment cost allocations Support work supplied by human resources department Budgeted rwmorroiemployees Support work supplied by information Bystems department Budgated processing time lir minutes) Support Departments Operating Departments HR Info Systems Corporate Consumer Tot Costs incurred $ 65,000 $ 260,000 $ 990,000 $ 495,000 $ 1,810 Allocation of HR costs (65,000) 13,000 28.600 23,400 $ 0 273,000 (273,000) 148,370 Allocation of Info Systems costs 124,630 $ 0 $ 1,166,970 S 843,030 $ 1,810, Total budgeted costs of operating departments "Proportions for services provided to other support onpartments human resources (HR), 0.20000, information Syfers is 0.06000 20 44 38 320 2,000 1,800 Print Done Direct allocation data procal method. (Round proportions to live decimal places, Xxxxx, and your final answers to the nearest Cosa noua Niacalur HR COM Nocation of Wro Systems casts Total budap CONTA Of operating depart Support Departments Operating Departments HR Into. Systems Corporate Consumer Total 3 65.000 280,000 $ gan.Dou S 485003 S 1,810,000 (05.000 35,750 29.250 1280,003) 141,305 118,00 0$ I! $ 1,167,055 S 642,045 3 1 810,CO