methods in my process-costing systena fixed prices." Do you agree with this statement made by a plant controller? Explain. Compute equi of your sched ngLab Exercises 17-16 Equivalent units, zero beginning inventory. Candid, Inc., is a manufacturer of digital ca materials and $805,000 on conversion costs, for a total manufacturing cost of $1,605,000. r of digital cameras on direct 17-20 Wei For the data i unit for direct and units in e It has two departments: assembly and testing. In January 2014, the company incurred $800,000 on dir 1. Assume there was no beginning inventory of any kind on January 1, 2014. During January, 5,000 cam eras were placed into production and all 5,000 the unit cost of an assembled camera in January? were fully completed at the end of the month. What 17-21 FIR division at Fe method Compute eq of your sche 17-22 FI For the dat the cost pe (and transf 17-23 for the mo loaves of r is 2 Assume that during February 5,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February, but only 4,000 cameras are fully com- pleted at the end of the month. All direct materials have been added to the remaining 1,000 cameras However, on average, these remaining 1,000 cameras are only 60% complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled camera in February 2014? 3. Explain the difference in your answers to requirements 1 and 2. 17-17 Journal entries (continuation of 17-16). Refer to requirement 2 of Exercise 17-16. Prepare summary journal entries for the use of direct materials and incurrence of conversion costs. Also prepare a journal entry to transfer out the cost of goods completed. Show the postings to the Work in Process account