Select each of the items with the best description of its purpose. Description Items 1. Notifies the materials manager to send materials to a production department. 2 Holds costs of indirect materials, indirect labor, and similar costs until assigned to production Holds costs of direct materials, direct labor, and applied overhead until products are transferred from production to finished goods (or another department) 4. Standardizes partially completed units into equivalent completed units 5. Holds costs of finished products until sold to customers. 6. Describes the activity and output of a production department for a period. . Holds costs of materials until they are used in production or as factory overhead. Required information [The following information applies to the questions displayed below.) During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 78,000 were in process in the production department at the beginning of April and 312,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 100,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. Compute the number of units transferred to finished goods. Compute the number of equivalent units with respect to both materials used and conversion used in the production department for pril using the weighted-average method. Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the number of units transferred to finished goods. Inits transferred out Required 1 Required 2> Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the number of equivalent units with respect to both materials used and conversion used in the production department for April using the weighted-average method Equivalent Units of Production-Weighted Average ConversionConversion EUP- Units % Materials EUP-Materials % Conversion Equivalent units of production Required 1 Required 2 Required information [The following information applies to the questions displayed below. Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Beginning Ending Raw materials inventory Work in process inventory Finished goods inventory Inventory Inventory $54,000 48,000 581,000 577,000 410,000 606,000 The following additional information describes the company's production activities for May. Raw materials purchases (on credit) Factory wages cost (paid in cash) Other overhead cost (Other Accounts credited) Materials used 250,000 1,557,000 137,000 Direct Indirect 190,000 66,000 Labor used Direct Indirect 800,000 757,000 Overhead rate as a percent of direct labor Sales (on credit) 120% $4,500,000 The predetermined overhead rate was computed at the beginning of the year as 120% of direct labor cost. Required: 1. Compute the cost of products transferred from production to finished goods and cost of goods sold. Raw Materials (RM) Work in Process (WIP) Factory Wages Payable Finished Goods (FG) Factory Overhead Income Statement (Partial) Cost of goods transfered Costs of goods sold Select each of the items with the best description of its purpose. Description Items 1. Notifies the materials manager to send materials to a production department. 2 Holds costs of indirect materials, indirect labor, and similar costs until assigned to production Holds costs of direct materials, direct labor, and applied overhead until products are transferred from production to finished goods (or another department) 4. Standardizes partially completed units into equivalent completed units 5. Holds costs of finished products until sold to customers. 6. Describes the activity and output of a production department for a period. . Holds costs of materials until they are used in production or as factory overhead. Required information [The following information applies to the questions displayed below.) During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 78,000 were in process in the production department at the beginning of April and 312,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 100,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. Compute the number of units transferred to finished goods. Compute the number of equivalent units with respect to both materials used and conversion used in the production department for pril using the weighted-average method. Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the number of units transferred to finished goods. Inits transferred out Required 1 Required 2> Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the number of equivalent units with respect to both materials used and conversion used in the production department for April using the weighted-average method Equivalent Units of Production-Weighted Average ConversionConversion EUP- Units % Materials EUP-Materials % Conversion Equivalent units of production Required 1 Required 2 Required information [The following information applies to the questions displayed below. Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Beginning Ending Raw materials inventory Work in process inventory Finished goods inventory Inventory Inventory $54,000 48,000 581,000 577,000 410,000 606,000 The following additional information describes the company's production activities for May. Raw materials purchases (on credit) Factory wages cost (paid in cash) Other overhead cost (Other Accounts credited) Materials used 250,000 1,557,000 137,000 Direct Indirect 190,000 66,000 Labor used Direct Indirect 800,000 757,000 Overhead rate as a percent of direct labor Sales (on credit) 120% $4,500,000 The predetermined overhead rate was computed at the beginning of the year as 120% of direct labor cost. Required: 1. Compute the cost of products transferred from production to finished goods and cost of goods sold. Raw Materials (RM) Work in Process (WIP) Factory Wages Payable Finished Goods (FG) Factory Overhead Income Statement (Partial) Cost of goods transfered Costs of goods sold