Larsen Company manufactures car seats in its Denver plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department. (Click the icon to view information about Larsen Company's process-costing system.) Data for the assembly department for October 2017 are as follows: (Click the icon to view the assembly departrrient data.) Click the icon to view the weighted-average cost per equivalent unit data and total costs accounted for.) Read the requirements. Requirement 1. For each cost category, compute equivalent units in the asserribly department. Show physical units in the first column of your schedule. (For amounts with a 0 balance, make sure to enter "J" in the appropriate cell.) Equivalent Units Direct Conversion Physical Units Materials Costs Flow of Production Work in process beginning Started during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Equivalent units of work done current period only Larsen Company manufactures car seats in its Denver plant. Each car seat passes through the assembly department and i - X More Info Data for the assembly department for October 2017 are as follows: (Click the icon to view the assembly department data.) (Click the icon to view the weighted-average cost per equivalent unit data and total costs accounted for.) Read the requirements. x Data Table Real 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, it is immediately transferred to testing. Larsen Company uses the FIFO method of process costing. cal units in the fir Woil Print Done Star Physical Units Direct Conversion (Car Seats) Materials Costs Work in process, October 1" 5,100 $1,489,200 $684,675 Started during October 2017 19,500 Completed during October 2017 22,500 Work in process, October 315 2.100 Total costs added during October 2017 $4,095,000 S1,891,350 *Degree of completion: direct materials, ?%, conversion costs, 60%. Degree of completion direct materials, 7%; conversion costs, 75%. Tod Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Print Done Equivalent units of work done in current period only Larsen Company manufactures car seats in its Denver plant. Each car seat passes through the assembly department Data for the assembly department for October 2017 are as follows: (Click the icon to view the assembly department dala) - X - X Reference Requirements Direct Materials Conversion Costs Costs incurred to date $ 5,584,200 $ 24,600 2,576,025 24.075 Divide by equivalent units of work done to date Cost per equivalent unit for work done to date 1. For each cost category, compute equivalent units in the assembly department. Show physical units in the first column of your schedule. 2. For each cost category, summarize total assembly department costs for October 2017 and calculate the cost per equivalent unit. 3. Assign total costs to units completed and transferred out and to units in ending work in process. 4. Explain any difference between the cost per equivalent unit in the assembly department under the weighted-average method and the FIFO method. 5. Should Larsen's managers choose the weighted-average method or the FIFO method? Explain briefly. 227 $ 107 Total Direct Conversion Costs Completed and transferred out Production Costs Materials $ 7,515,000 $ 5.107.500 $ 645,225 476.700 2,407,500 168,525 Work in process, ending $ 8,160,225 $ 5.584.200 $ 2,576,025 Total costs accounted for Print Done Print Done