please help with requirement 3(:
- X More info s accounted for The process-costing system at Gable Company has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the assembly department finishes work on each car seat, it is immediately transferred to testing. Gable Company uses the FIFO method of process costing. Print Done Direct Conversion Materials Costs $1,432,600 $527,280 55 Physical Units Car Seats) Work in process, October 1" 5,200 Started during October 2020 19,000 Completed during October 2020 21,500 Work in process, October 31 2,700 Total costs added during October 2020 Degree of completion direct materials, 7%; conversion costs, 65%. Degree of completion direct materials, %: conversion costs, 80%. tion used: on $4,085,000 $2,028,000 280 1.000 Print Done nal check Requirement 3. 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. (Abbreviation use Total Direct Conversion Production Costs Materials Costs 1,959,880 $ 1.432.600 $ 527 280 Completed and transferred out: Work in process, beginning Costs added to beginning WIP in current period Total from beginning inventory 19,525 1,440,125 2,000 1,969,405 ,,1 1,34 VVD VTUIN II Pro, Uyuy ULIZOV 6,113,000 4,085,000 2,028,000 Costs added in current period $ 8,072,880 $ 5,517,600 $ 2,555 280 Total costs to account for Next calculate cost per equivalent unit for direct materials and conversion costs. Direct Conversion Materials Costs Costs added in current period $ 4,085,000 $ 2,028,000 Divide by equivalent units of work done in current period 19,000 20.280 $ 215$ 100 Cost per equivalent unit for work done in current period Requirement 3. 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. (Abbreviation used Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Work in process, beginning 1,959,880 $ 1.432 500$ 527,280 Costs added to beginning WIP in current period 9,525 1,440125 2.000 Total from beginning inventory 1,969.405 equirements 1. For each cost category, compute equivalent units in the assembly department Show physical units in the first column of your schedule. 2. For each cost category, summarize total assembly department costs for October 2020 and calculate the cost per equivalent unit. 3. Assign total costs to units completed and transferred out and to units in ending work in process 4. Explain any difference between cost per equivalent unit in the assembly department under the weighted average method and the FIFO method. 5. Should Gable's managers choose the weighted-average method or the FIFO method? Explain briefly
