POD McKnight 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 conting system at McKnight has a single direct cont category (dired 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. McKnight uses the weighted average method of process costing. Consider the following data for the antydepartment in April 2017 Click the icon to view the data) Read the requirements Requirement 1. Summarize total assembly department costs for Apel 2017, and assign total costs to units completed (and transferred out) and to unites in ending work in process Begin by calculating the physical units and equivalent units. Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process beginning Started during current period Choose from any list or enter any number in the input fields and then continue to the next question 2 McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through tw department. This problem focuses on the assembly department. The process-costing system at McKnight has as indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10 assembly department's process. McKnight uses the weighted average method of process costing. Consider the fo (Click the icon to view the data.) Read the requirements. Physical Direct Conversion Flow of Production Units Materials Costs Work in process, beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Choose from any list or enter any number in the input fields and then continue to the next question McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the department. This problem focuses on the assembly department. The process costing system at McKnight has a single direct-cost ca indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete Conv assembly department's process. McKnight uses the weighted average method of process costing. Consider the following data for the Click the icon to view the data) Read the requirements Accounted for Equivalent units of work done to date Now summarize the total costs to account for Direct Total Production Costs Conversion Costs Materials Choose from any list or enter any number in the input fields and then continue to the next question This Question: 18 pts 1 of 2 (0 complete) McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the as department. This problem focuses on the assembly department. The process-costing system at McKnight has a single direct-cost categ indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Convers assembly department's process. McKnight uses the weighted average method of process costing Consider the following data for the as Click the icon to view the data) Read the requirements Cost per equivalent unit Finally assign total costs to units completed (and transferred out) and to units in ending work in process Total Direct Conversion Production Costs Materials Costs Completed and transferred out Work in process, ending Total costs accounted for Requirement 2. What issues should a manager focus on when reviewing the equivalent units calculation? Choose from any list or enter any number in the input fields and then continue to the next Mcknight 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 McKnight 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. McKnight uses the weighted average method of process costing Consider the following data for the assembly department in April 2017 (Click the icon to view the data) Read the requirements CUL Work in process, ending Total costs accounted for Requirement 2. What issues should a manager focus on when reviewing the equivalent units calculation? To show better performance, a department supervisor might report a degree of completion resulting in Y cost per equivalent unit and operating income. In other words, estimates of degree of completion can help managers should ask supervisors specific questions about the process they followed Top management should always emphasize This emphasis drives throughout the panication Choose from any list or enter any number in the input fields and then continue to the next question 1 of 2 (0 complete) i Data Table Conversion Costs $1,307 Physical Units Direct (Frames) Materials Work in process, April 1a 90 $1,155 Started during April 2017 515 Completed during April 2017 465 Work in process, April 300 140 Total costs added during April 2017 $16.995 Degree of completion direct materials, 100%; conversion costs, 40%. Degree of completion direct materials, 100%, conversion costs, 10% $10,189 Requirements 1. Summarize total assembly department costs for April 2017 and assign them to units completed (and transferred out) and to units in ending work in process 2. What issues should a manager focus on when reviewing the equivalent units calculation? bre ho Print Done