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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

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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 (le, conversion) costs are added uniformly throughout the process Following is a summary of production costs incurred during October Direct Conversion Materials Costs Beginning work-in-process $3,750 Costs added in October $3,300 5.300 Total costs $ 8,300 $ 9,050 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 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 Prepare a production cost report for October using the weighted average 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 Weighted Average Production Cost Report Production Quantity Information Step 1: Analyze Flow of Physical Step 2: Calculate Equivalent Units Units Physical Units Completion Direct Percentage Materials Conversion Input Raninmin w niniece insanlar PUULUU wudnuty LIVIT Step 1: Analyze Flow of Physical Step 2: Calculate Equivalent Units Units Completion Direct Physical Units Conversion Percentage Materials Input Beginning work-in-process inventory Direct materials 96 Conversion 96 Started this period Total to account for 0 Output Completed 96 Ending work-in-process inventory Completion percentage Direct materials 96 Conversion 96 Total accounted for 0 Total work done to date (Total equivalent units) 0 Unit Cost Determination Step 3: Determine costs to Account for Total Direct Conversion Total Materials Costs Beginning work-in-process inventory Current costs Total costs to account for S 0 0 $ Step 4: Compute Unit Costs Cost per equivalent unit Cost Assignment Completed and Transferred Out Step 5: Assign Total Manufacturing Costs Ending Work in-Process Total Units completed and transferred out Ending work in process Materials Conversion Total costs accounted for $ 0$

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