P11.6 (LO 1, 2, 3, 4, 5, 6), AP Refer to the information in P11.5. After Porcha Industries finishes machining the component parts for its light fixtures, the parts move into the assembly process, where more DM resources are added. This combination of previously machined parts and new assembly DM resources are then transformed into a finished chandelier. In the assembly department, conversion costs are added evenly throughout the process, as are the new DM resources-as the units move along the assembly line, more parts are added to each unit. The following select detail is associated with Porcha's May activity in the assembly process. Units Transferred- DM Conversion Costs Units in beginning WIP Inventory Beginning WIP Inventory degree of completion In 400 ? ? 80% Costs in beginning WIP Inventory under $27,500 $11,985 $6,413 FIFO Costs in beginning WIP Inventory under $27,200 $11,985 $6,413 weighted-average New units started Costs added to WIP Inventory this period ? $246,140 $148,875 Units completed Units in ending WIP Inventory 8,200 200 Ending WIP Inventory degree of completion ? ? 30% Required (Round rates to four decimal places if necessary.) a. Determine the total cost of units completed and the cost of units in ending WIP Inventory- Assembly in May by completing Steps 1-5 of the template, assuming Porcha Industries uses the FIFO method of process costing. b. Determine the total cost of units completed and the cost of units in ending WIP Inventory- Assembly in May by completing Steps 1-5 of the template, assuming Porcha Industries uses the weighted-average method of process costing. c. Record the journal entry to account for the transfer of units completed out of the WIP Inventory-Assembly account consistent with (1) the FIFO method and (2) the weighted- average method. d. Calculate the total cost per completed unit at the end of the assembly process under both methods, FIFO and weighted-average. If they are the same, explain why; if they are different, explain how that could happen. e. Evaluate the profitability of these chandeliers (under both the FIFO and weighted-average methods) if Porcha sells each unit for $180. What is the gross margin per unit and gross margin percentage? If Porcha had a goal of earning a 40% gross margin percentage, did it meet its goal? If not, is there any way it could still meet its operating income goal? Explain.