Managerial accounting

2. Consider the following data for the Assembly Division of Fenton Watches Ine Units Percentage Complete Materials Coaversion 90% Beginning work in 80 Started in May 500 Completed during 460 60% 30% Ending work in process (May 31) Materials Beginming work in $493,360 Coeversion 91,040 added $3 220,000 $1,392,000 during Required Assume the Assembly Division uses weighted average method. i. Compule the equivalent units for the direet materials and conversion costs i. Cempute the cost per equivalent units for direct materials and conversion iti. Determine the total costs of ending work in process iv. Determine the total costs of units transferred out of the Assembly Division. v. Prepare a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out with the costs in the beginning inventory and costs added during the period 3. Refer to the information in question 2 above. Suppose the Assembly Division at enon Watches Inc. uses FIFO method of process oosting instead of the weighted average method Required Compute the equivalcnt units of production for the month of May. i. Hi. Compute the cost per equivalent unit for the month of May ii. Determine the total cost of ending work in perocess inventory. iv. Determine the total cost of units transferred out Prepare a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out with the costs in the beginning inventory and costs added during the period. V