Managerial Accounting Dimetry Corp. manufactures speakers in two departments, Assembly and Fitting Materials are introduced in the Assembly Department. After assembly is completed, the materials are transferred to the Fitting Department. The following data refer to the Assembly Department for February 2017 Percent Completed Units Materials Beginning WIP 65,000 65% Conversion 45% Started into Production 400,000 Completed and Transferred To Fitting Dept. Ending WIP 350,000 115,000 70% 30% Beginning WIP Costs added during period Required: Materials $20,000 $100,000 Conversion $43,000 $249,760 1. Determine the equivalent units for February for the Assembly process 2. Compute the cost per equivalent unit for the above 3. Determine the cost of ending WIP and the total cost of goods transferred to the Fitting Department 4. Prepare a report to reconcile costs associated with ending WIP and goods transferred out to beginning WIP and costs added during February Equivalent Unit 1 Equivalent Units Materials Conversion Transferred to next department Ending WIP Units Parially Completed Material, Conversion Equivalent Units 2 Cost per Equivalent Unit Beginning WIP Costs added during period Total Cost Equivlent Units Cost per Equivalent Unit Materials Conversion 3 Cost per Unit $.+$.= Total Cost of Units Transferred *$= Cost of Ending WIP Materials *$. Cost of Ending WIP Conversion *$. Ending WIP 4 Cost Reconciliation Costs to be accounted for: Beginning WIP Costs added during period Total Costs Ending WIP Cost of Units Transferred to next department Total Costs