Q X the cost of the lifts transferred out of th More Info Marine Work uses three processes to manufacture lifts for pers steel, assembling the lift, and testing the completed lift i (Click the icon to view additional information.) The lifts are transferred to Finished Goods Inventory before shipment to marinas across the country Marine Work's Testing Department requires no direct materials. Conversion costs are incurred evenly throughout the testing process. Other information follows for the month of August: Requirement 1. Prepare a production cost report for the Testi production.) Jole dollar. Abbreviation used: EUP = eqL Marine Production Cost Report 1,800 units Month Ended 7,100 units 3,700 units Physical TO 5,200 units UNITS Beginning Work-in-Process Inventory Transferred in from Assembling Department during the period Completed during the period Ending Work-in-Process Inventory (40% complete for conversion work) COSTS Beginning Work-in-Process Inventory (transferred in costs, $96,000; conversion cost, $20,000) Transferred in from the Assembly Department during the period Conversion costs added during the period UNITS Units Units to account for $ 116.000 616.000 72,480 Total units to account for Print Done Choose from any list or enter any number in the input field Question Help MarineWork uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department steel, assembling the lift, and testing the completed lift Marine Work uses the weighted average method (Click the icon to view additional information.) Read the requirements. Requirement 1. Prepare a production cost report for the Testing Department (Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used EUP = equivalent units of production) Marine Work Production Cost Report-Testing Department Month Ended August 31 Equivalent Units Physical Transferred Direct Conversion Units In Materials Costs UNITS Units to account for W Total units to account for Choose from any list or enter any number in the input fields and then continue to the next question O o 8:29 PM Question Help Marine Work uses three processes to manufacture lifts for personal watercraft forming a lift's parts from galvanized The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department steel, assembling the lift, and testing the completed lift Marine Work uses the weighted average method. (Click the icon to view additional information.) Read the requirements Units accounted for n/a n/a Total units accounted for n/a Transferred Direct Conversion Total COSTS In Materials Costs Costs Costs to account for n/a n/a Total costs to account for n/a n/a Cost per equivalent unit n/a Choose from any list or enter any number in the input fields and then continue to the next question ? Question Help 5 MarineWork uses three processes to manufacture lifts for personal watercraft forming a lift's parts from galvanized The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department steel assembling the lift and testing the completed lift Marine Work uses the weighted average method i (Click the icon to view additional information ) Read the requirements Costs accounted for n/a n/a Total costs accounted for n/a Requirement 2. What is the cost per unit for lifts completed and transferred out to Finished Goods Inventory? Why would management be interested in this cost? The cost per unit for lifts completed and transferred out to Finished Goods Inventory is per lift Why would management be interested in the cost per unit for lifts completed and transferred out to Finished Goods Inventory? O A. Managers would compare the average cost per lift against their budgeted costs to determine whether the costs of the Testing Department remain under control. If budgeted costs are higher than the actual average cost per lift then the managers have done a good job controlling costs. In contrast if the budgeted costs are lower than the actual average cost per lift managers will investigate the reason for the higher-than-expected costs in an effort to regain control over costs. OB. Managers use the cost per lift for external financial reporting-specifically to calculate the ending inventory balances on the Balance Sheet C. Managers use the cost per lift for external financial reporting-specifically to calculate the cost of Goods Sold on the Income Statement Choose from any list or enter any number in the input fields and then continue to the next question Question Help MarineWork unes three processen to manufacture lifts for personal watercraft forming are parts from galvanized the cost transforred into Finished Goods Inventory in the cost of the lite transforrod out of the Testing Doportment steel assembling the line and testing the completed Marino Work uses the wolghted average mothod (Click the icon to view additional information) Read the requirements n/a n/a Total costs accounted for Requirement 2. What is the cost per unit for its completed and transferred out to finished Goods Inventory? Why would management be interested in this cont? The cost per unit for its completed and transferred out to inished Goods Inventory lo perlin Why would management be interested in the cost per unit for its comploted and transforrod out to Finished Goods Inventory? OA Managers would compare the average cost per it against the budgeted costs to determine whether the cost of the Costing Department romain under control of budgeted costs are higher than the actual average cost per in then the managers have done a good job controlling costs. In contrast in the budgeted costs are lower than the actual average cost perlit managers will investigate the reason for the higher than expected costs in an effort to regain control over costs OB Managers use the cost per litt for external financial reporting specifically to calculate the ending inventory balances on the Balance Shoot OC Managers use the cost per litt for external financial reporting specifically to calculate the cost of Goods Sold on the Income Statement OD. All of the above are reasons why management would be interested in the cost per unit for its comploted and transferred out to Finished Goods Inventory ? Choose from any list of enter any number in the input hields and then continue to the next