oler UIZ pts 2 of 2 (2 complete) This Qui Reference Completed and transferred out Total Direct Conversion Production Costs Materials Costs $ 26,550 $ 15,300 $ 11,250 4,530 4,080 $ 31,080 $ 19,380 $ 11,700 Work in process, ending Total costs accounted for Print Done - X Data Table Conversion Costs $156 Physical Units Direct (Frames) Materials Beginning work in process, (April 1) 60 $1,530 Started during April 2017 510 Completed during April 2017 450 Ending work in process, (April 30) 120 Total costs added during April 2017 $17,850 a Degree of completion: direct materials, 100%, conversion costs, 40% bDegree of completion direct materials, 100%; conversion costs, 15%. $11,544 Print Done Cranberry Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments the assembly department and the finishing department. This problem focuses on the assembly department. The process costing system at Cranberry has a single direct cost category (direct materials) and a single indirect-cost category (conversion costs) Direct materials are added when the assembly department process is 10% complete Conversion costs are added evenly during the assembly department's process. Cranberry uses the FIFO method of process costing. Consider the following data for the assembly department in April 2017 (Click the icon to view the data) (Click the icon to view the total costs assigned under the weighted average method) Read the requirements Requirement 1. Summarize total assembly department costs for April 2017, and assign total costs to units completed (and transferred out) and to units in ending work in process. Begin by calculating the physical units and equivalent units (For amounts with a 0 balance, make sure to enter "0" in the appropriate cell) Equivalent Units Physical Units Direct Conversion (tons) Materials Costs Work in process, beginning 60 Transferred-in during current period To account for Completed and transferred out during current period From beginning work in process 60 Started and completed Work in process, ending Accounted for 510 120 Choose from any list or enter any number in the input fields and then continue to the next question. Equivalent units of work done in current period Now summarize the total costs to account for Total Conversion Direct Materials Production Costs Costs Total costs to account for Next calculate cost per equivalent unit for direct materials and conversion costs Direct Conversion Materials Costs Divide by Cost per equivalent unit Aeeinn arrete to interamnat loneltronefaren inte in Annin nncnce Bain huolloin the total from Assign total costs to units completed (and transferred out) and to units in ending work in process. Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. (For amounts with a 0 balance, make sure to enter "o" in the appropriate cell) Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Total from beginning inventory Total costs of units completed and transferred out Total costs accounted for Requirement 2. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted average method and the FIFO method. Should Cranberry's managers choose the weighted average method or the FIFO method? Explain briefly, oler UIZ pts 2 of 2 (2 complete) This Qui Reference Completed and transferred out Total Direct Conversion Production Costs Materials Costs $ 26,550 $ 15,300 $ 11,250 4,530 4,080 $ 31,080 $ 19,380 $ 11,700 Work in process, ending Total costs accounted for Print Done - X Data Table Conversion Costs $156 Physical Units Direct (Frames) Materials Beginning work in process, (April 1) 60 $1,530 Started during April 2017 510 Completed during April 2017 450 Ending work in process, (April 30) 120 Total costs added during April 2017 $17,850 a Degree of completion: direct materials, 100%, conversion costs, 40% bDegree of completion direct materials, 100%; conversion costs, 15%. $11,544 Print Done Cranberry Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments the assembly department and the finishing department. This problem focuses on the assembly department. The process costing system at Cranberry has a single direct cost category (direct materials) and a single indirect-cost category (conversion costs) Direct materials are added when the assembly department process is 10% complete Conversion costs are added evenly during the assembly department's process. Cranberry uses the FIFO method of process costing. Consider the following data for the assembly department in April 2017 (Click the icon to view the data) (Click the icon to view the total costs assigned under the weighted average method) Read the requirements Requirement 1. Summarize total assembly department costs for April 2017, and assign total costs to units completed (and transferred out) and to units in ending work in process. Begin by calculating the physical units and equivalent units (For amounts with a 0 balance, make sure to enter "0" in the appropriate cell) Equivalent Units Physical Units Direct Conversion (tons) Materials Costs Work in process, beginning 60 Transferred-in during current period To account for Completed and transferred out during current period From beginning work in process 60 Started and completed Work in process, ending Accounted for 510 120 Choose from any list or enter any number in the input fields and then continue to the next question. Equivalent units of work done in current period Now summarize the total costs to account for Total Conversion Direct Materials Production Costs Costs Total costs to account for Next calculate cost per equivalent unit for direct materials and conversion costs Direct Conversion Materials Costs Divide by Cost per equivalent unit Aeeinn arrete to interamnat loneltronefaren inte in Annin nncnce Bain huolloin the total from Assign total costs to units completed (and transferred out) and to units in ending work in process. Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. (For amounts with a 0 balance, make sure to enter "o" in the appropriate cell) Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Total from beginning inventory Total costs of units completed and transferred out Total costs accounted for Requirement 2. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted average method and the FIFO method. Should Cranberry's managers choose the weighted average method or the FIFO method? Explain briefly