National University of Computer and Emerging Sciences FAST School of Management Spring 2020 Islamabad Campus 5. The Avionics Co assembles parts for the air transport industry. The following data relates to its radar based tracking devices, to which it assigns costs using the weighted average method of process costing Physical units Direct Conversion (tracking devices) Materials costs Beginning WIP May 1 (see note 1) 8 $4,933,600 $910,400 Started in May 50 Completed during May 46 12 Ending WIP May 31 (see note 2) Costs added during May $32,200,000 $13,920,000 Additional information: Note 1: degree of completion direct materials 90%; conversion costs 40% Note 2: degree of completion direct materials 60%; conversion costs 30% Required: a. Compute equivalent units for direct materials and conversion costs. b. Calculate cost per equivalent unit for direct materials and conversion costs, summarizing for total costs to account for. Assign these costs to units completed and transferred out and to units in ending work in process. [5+101 Suggested time: 30 mins Page 3 / 4 a +