Required: A. Using the weighted average costing, compute the following: 1. Equivalent units of materials and conversion for Process 1, 2 and 3 (6 points) 2. Unit costs of materials, labor and overhead for process 1, 2 and 3 (3 points) 3. Cost of completed and transferred out, and in-process inventories for process 1, 2 and 3. (6 points) 4. Unit costs of completed and transferred goods to process 2, 3 and to finished goods. (3 points) B. Journalize the above 'transactions for process 1, 2 and 3 (6 points) C. How much is the total manufacturing cost? Finished Goods Inventory? Work-in Process Inventory? (3 points) D. Recompute requirements A to C using FIFO costing method and normal losses were discovered at the end of each process. Cost Accounting Quiz No. 10.2 Process Costing - WA & FIFO with Losses Name: Do not forget to write your name here! Score: /54 Year & Section: WA A.1 (6) WA A.2 (3) WA A.3 (6) WA A.4 (3) WA JE (6) WA CGM (3) FIFO A.1 (6) FIFO A.2 (3) FIFO A.3 (6) FIFO A.4 (3) FIFO JE (6) FIFO CGM (3) Matalino Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For January 2021 Matalino Company presented the following costs on three processes: Costs incurred: Materials Direct Labor Overhead Materials are added at: Process 1 P100,000.00 #82,000.00 #30,750.00 100% at the beginning IN Process, beginning Started/Transferred In 2,000 units, 100% 20,000 units Completed and transferred ou 21,000 units 1,000 units 50% In Process, end (WA) In Process, end (FIFO) 700 units 50% complete Process 2 P61,500.00 #41,000.00 Process 3 P40,150.00 #40,100.00 #30,075.00 P30,750.00 50% at beginning, 50% at 60% complete 2,000 units, 50% ? units 20,000 units 3,000 units 50% 2,700 units 50% 50% at beginning, 30% at 70% complete, and remaining 20 at 90% 250 units (80% ? units 20,000 units 500 units 80% complete. 200 units 80% complete.