Question 12 of 13\

(-)/(4)

\ The inspection department at Concord Industries receives manufactured parts from its own production department and then meticulously checks every part before packaging it for sale. This month, the production department focused on automobile side mirrors. The inspection department began April with just 160 side mirrors in process. These beginning units were

70%

of the way through the inspection process. During April, 3,960 more side mirrors were transferred-in from the production department. By month's end, 3,670 units had been fully inspected and packaged (packaging occurs when the units reach the

95%

completion point in the inspection department). April's ending WIP Inventory units in the inspection department were

40%

of the way through the inspection process.\ (a)\ Determine Concord's equivalent units for transferred-in costs, DM, and conversion costs in April, assuming the company uses the FIFO method of process costing.\ Total equivalent units of work\ done\ Attempts: 0 of 2 used\ \ (b)\ Determine equivalent units for all three cost categories in part (a), assuming Concord instead uses the weighted-average method of process costing.\ Transferred-in\ DM\ Conversion Cost\ Total equivalent units of work done\ eTextbook and Media\ Attempts: 0 of 2 used\ \ (d)\ Which of the two methods more accurately reflects how the work in the inspection department is done?\ FIFO method\ Weighted-average method\ Attempts: 0 of 2 used