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E18-24 (similar to) Question Help Consider the following data for November 2017 from Gray Manufacturing Company, which makes silk pennants and uses a process-costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value. Gray Manufacturing Company uses the FIFO method of process costing. B3: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Read the requirement. Total Direct Conversion Production Costs Materials Costs Total costs to account for Direct Materials $1,423 Conversion Costs $1,110 Physical Units (Pennants) Work in process, November 18 1,000 Started in November 2017 ? Good units completed and transferred out during November 2017 9,000 Normal spoilage 100 Abnormal spoilage 50 Work in process, November 306 2,000 Total costs added during November 2017 a Degree of completion direct materials, 100%; conversion costs, 50%. bDegree of completion direct materials, 100%; conversion costs, 30%. $12,180 $27,750 Equivalent Units Direct Conversion Materials Costs 0 500 8,000 8,000 Flow of Production Good units completed and transferred out during current period: From beginning work in process Started and completed Normal spoilage Abnormal spoilage Work in process, ending Work done in current period only 100 100 50 50 2,000 600 10,150 9.250 i Requirement - Summarize the total costs to account for; calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. Print Done