part c

Whispering Enterprises is aptly named because of its signature item-chewing gum! The owners started the business years ago when no existing gum had the right flavor and texture combination. After years of perfecting the process, they had a finely tuned operation. This year. Whispering's main processing department reported the following activity and costs. All DM resources are added to Whispering's processing department at the beginning of processing. Conversion costs are added evenly throughout the process. Your answer is correct. Complete Steps 1-5 of the template for Whispering Enterprises this year using the FIFO method of process costing, clearly labeling the following. (Round cost per equivalent unit to 2 decimal places, eg. 15.25.) - Equivalent units of production for both DM and conversion costs. - The cost per equivalent unit for both DM and conversion costs. - The total cost of units completed and the total cost of units in ending WIP Inventory. Record the following journal entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) 1. Transfer of DM costs from RM Inventory into the processing department this year. 2. Recognition of conversion costs incurred for the period; assume all DL costs are paid in cash, totaling $2,800. 3. The completion of units; they are now ready for sale. Present Whispering's WIP Inventory T-account for the period, showing all debits and credits that would have existed or would have been entered in the account this year, and determine its ending balance. (Post entries in the order of journal entries presented in the previous part.)