Memorychip is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added evenly during the process. Some units of this product are spoiled as a result of defects not detectable before inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Memorychip uses the FIFO method of process costing. Summary data and weighted-average data for September 2017 are as follows: (Click the icon to view the data.) Click the icon to view the weighted average data.) He Read the requirements, ZI lin et Requirement 1. For each cost category, compute equivalent units. Show physical units in the first column of your schedule Enter the physical units in first, then calculate the equivalent units. (Complete all input fields. Enter a "O" for applicable zero amounts.) Equivalent Units Physical Conversion Egi 9. en Direct Memorychip is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added before inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Memorychip uses the FIFO method of process costing. Summa B (Click the icon to view the data.) Click the icon to view the weighted average data.) Read the requirements. Enter the physical units in first, then calculate the equivalent units. (Complete all input fields. Enter a "o" for applicable zero amounts.) Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process beginning 1100 Started during current period 2806 3906 To account for Completed and transferred out during current period From beginning work in process Started and completed Normal spoilago Abnormal spoilage Work in process, ending Accounted for Equivalent units of work done in current period Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search TI Memorychup is a tast-growing manufacturer of computer chips Direct materials are added at the start of the production process. Conversion costs are added evenly during the refore inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Memorychip uses the FIFO method of process costing. Summary data and weight Click the icon to view the data) Click the icon to view the weighted average data.) Read the requirements Equivalent units of work done in current period Requirement 2. Summarize total costs to account for calculate the cost per equivalent unit for each cost category, and assign total costs to units completed and transferred ou 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 each cost category. (Enter your answers to the nearest cent) Direct Materials Conversion Costs Divide by Cost per equivalent unit for work done to date Choose from any list or enter any number in the input fields and then continue to the next question Type here to search O II E belle Spur So youus. Sporcu us do usposeu un 2010 net disposal Valle. Memolychip uses the FIFO method of process costing Summar Click the icon to view the data.) (Click the icon to view the weighted-average data.) Read the requirements wwwww Finally assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process (Com accounted for may not equal the total costs to account for due to rounding) Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Costs added to beginning inventory before normal spollage Normal spoilage Total from beginning inventory before normal spoilage Abnormal spoilage Work in process, ending Total costs of units completed and transferred out Total costs accounted for Requirement 3. Should Memorychip's managers choose the weighted average method or the FIFO method? Explain briefly. Choose from any list or enter any number in the input fields and then continue to the next question Type here to search O II HUR VIEW weighted average data) to We Read the requirements mari Total costs accounted for complet in endin Requirement 3. Should Memorychip's managers choose the weighted average method or the FIFO method? Explain briefly. The FIFO ending inventory is than the weighted average ending inventory by The FIFO chegg.c method also assigns in costs to spoilage. As a result, the FIFO method results in a relatively ivalen cost of units completed and transferred out and a ending work-in-process inventory her to E ed abnor Memorychip's managers should consider the because it leads to a higher cost of goods completed and Oleted an transferred (and sold), thereby lowering taxes. The managers may have an incentive, however, to use the Sto accoshow a higher level of current income if their compensation increases with higher operating income or if there are debt covenants that would be violated by showing lower income. Memorychip's managers may also consider an advantage of the which is that it provides better information for managing the business because it keeps separate the costs of the current period from costs incurred in .courseh previous periods erefore Choose from any list or enter any number in the input fields and then continue to the next question. gree of co al costs to Silage, and uivalent Unit, and Assign Total Costs to... and Help on using aiziet.com Social Science Economics Finance earch ORT ON 2 Memorychip is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added evenly during the process. Some units of this product are spoiled as a result of defects not detectable before inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Memorychip uses the FIFO method of process costing. Summary data and weighted-average data for September 2017 are as follows: (Click the icon to view the data.) Click the icon to view the weighted average data.) He Read the requirements, ZI lin et Requirement 1. For each cost category, compute equivalent units. Show physical units in the first column of your schedule Enter the physical units in first, then calculate the equivalent units. (Complete all input fields. Enter a "O" for applicable zero amounts.) Equivalent Units Physical Conversion Egi 9. en Direct Memorychip is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added before inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Memorychip uses the FIFO method of process costing. Summa B (Click the icon to view the data.) Click the icon to view the weighted average data.) Read the requirements. Enter the physical units in first, then calculate the equivalent units. (Complete all input fields. Enter a "o" for applicable zero amounts.) Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process beginning 1100 Started during current period 2806 3906 To account for Completed and transferred out during current period From beginning work in process Started and completed Normal spoilago Abnormal spoilage Work in process, ending Accounted for Equivalent units of work done in current period Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search TI Memorychup is a tast-growing manufacturer of computer chips Direct materials are added at the start of the production process. Conversion costs are added evenly during the refore inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Memorychip uses the FIFO method of process costing. Summary data and weight Click the icon to view the data) Click the icon to view the weighted average data.) Read the requirements Equivalent units of work done in current period Requirement 2. Summarize total costs to account for calculate the cost per equivalent unit for each cost category, and assign total costs to units completed and transferred ou 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 each cost category. (Enter your answers to the nearest cent) Direct Materials Conversion Costs Divide by Cost per equivalent unit for work done to date Choose from any list or enter any number in the input fields and then continue to the next question Type here to search O II E belle Spur So youus. Sporcu us do usposeu un 2010 net disposal Valle. Memolychip uses the FIFO method of process costing Summar Click the icon to view the data.) (Click the icon to view the weighted-average data.) Read the requirements wwwww Finally assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process (Com accounted for may not equal the total costs to account for due to rounding) Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Costs added to beginning inventory before normal spollage Normal spoilage Total from beginning inventory before normal spoilage Abnormal spoilage Work in process, ending Total costs of units completed and transferred out Total costs accounted for Requirement 3. Should Memorychip's managers choose the weighted average method or the FIFO method? Explain briefly. Choose from any list or enter any number in the input fields and then continue to the next question Type here to search O II HUR VIEW weighted average data) to We Read the requirements mari Total costs accounted for complet in endin Requirement 3. Should Memorychip's managers choose the weighted average method or the FIFO method? Explain briefly. The FIFO ending inventory is than the weighted average ending inventory by The FIFO chegg.c method also assigns in costs to spoilage. As a result, the FIFO method results in a relatively ivalen cost of units completed and transferred out and a ending work-in-process inventory her to E ed abnor Memorychip's managers should consider the because it leads to a higher cost of goods completed and Oleted an transferred (and sold), thereby lowering taxes. The managers may have an incentive, however, to use the Sto accoshow a higher level of current income if their compensation increases with higher operating income or if there are debt covenants that would be violated by showing lower income. Memorychip's managers may also consider an advantage of the which is that it provides better information for managing the business because it keeps separate the costs of the current period from costs incurred in .courseh previous periods erefore Choose from any list or enter any number in the input fields and then continue to the next question. gree of co al costs to Silage, and uivalent Unit, and Assign Total Costs to... and Help on using aiziet.com Social Science Economics Finance earch ORT ON 2