Smith Electronic Company's chip-mounting production department had 300 units of unfinished product, each 50% completed on September 30. During October of the same year, this department put another 800 units Into production and completed 900 units and transferred them to the next production department. At the end of October, 200 units of unfinished product, 70% completed, were recorded in the ending Work-in-Process Inventory. Smith Electronic Introduces all direct materials when the production process is 50% complete. Direct labor and factory overhead (l.e., conversion) costs are added uniformly throughout the process. Following is a summary of production costs incurred during October: Direct Materials Beginning work-in-process Costs added in October Conversion Costs $ 2,500 4,400 $ 6,900 $9, 280 $9, 2ee Total costs Required: 1. Calculate each of the following amounts using weighted average process costing: a. Equivalent units of direct materials and conversion. b. Equivalent unit costs of direct materials and conversion. C. Cost of goods completed and transferred out during the period. d. Cost of Work-in-Process Inventory at the end of the period. 2. Prepare a production cost report for October using the weighted average method. 3. Repeat requirement 1 using the FIFO method. 4. Repeat requirement 2 using the FIFO method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Repeat requirement 2 using the FIFO method. (Round your answers to the nearest whole dollar amount. Round "Cost per equivalent unit" to 2 decimal places.) SMITH ELECTRONIC COMPANY Chip-Mounting Production Department FIFO Production Cost Report Production Quantity Information Step 1: Analyze Step 2: Calculate Flow of Physical Units Equivalent Units Direct Conversion Physical Units Materials Costs Input Beginning work-in-process inventory 300 Completion percentage Direct materials 32 Conversion 13 Started this period 800 Total units to account for 1,100 Output Completed 100 Ending work-in-process inventory 900 Completion percentage Direct materials Conversion Total units accounted for 1,000 0 Total work performed to date Beginning work-in-process inventory Total work performed this period (FIFO equivalent units) 0 Unit Cost Determination Step 3: Determine Total Costs to Account for Flow Conversion Direct Materials Costs Total Beginning work-in-process inventory Current cost Total costs to account for 0 0 S Step 4: Compute Unit Costs Cost per equivalent unit 0 0 S S 0 Cost Assignment Completed and Transferred Out Ending Work- in-Process Total $ 300 Step 5: Assign Total Manufacturing Costs Units completed and transferred out Beginning work-in-process Current cost to complete Materials Conversion Total from beginning work-in-process Units started and finished Total cost completed and transferred out Ending work-in-process Materials Conversion Total costs accounted for 9,600 4,200 14,100 S S 0 S 0 S 0