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THIRTY POINT QUESTION-SHOW CALCULATIONS FOR PARTIAL CREDIT cing, Inc, uses a process costing system to account for its production of bicycles. The flow of production goes from Machining to Amen in to finished Goods. Some operating data for the March is shown below. Provide the requested information at the bottom of the page. Finished Goods Machining Department Assembly Department 96 Complete % Complete (Company uses FIFO) Units Units Materials Conversion Units Transfer in Cost Materials Conversion Units Beginning WIP 700 1$% 15% Beginning Inv. 30% 250 $ 27.500 Begun/transferred in 3,500 Transferred in Ending WIP 200 40% 20% 250 70% 1,000 500 10% Transferred out 3,500 Sold Income Statement Costs: Beginning WIP Added Total $ $ $ 7,560 81.940 89,500 $ 100.000 $ $ 7,500 192,500 $ 200,000 $ $ 61,500 8,100 $ 174,000 19,750 S 235,500 Equivalent Units (EUs): Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income Cost per EU: s 5.00 NOTES: 1. Units are sold to customers for $250 each. 2. Company uses FIFO method for the determination of ending inventory 3. Profit margin (Net Income/Sales) -15% 1. Units Begun in the Machining Department (2pts) - 2. Conversion Costs included the in Beginning Machining WIP Balance (3pts) - 3. Transfer in Cost per Equivalent Unit in the Assembly Department for the period pts) 4. Percentage Completed regarding Materials Costs of Ending WIP in the Assembly Department (4pts) - 5. Costs transferred from the Assembly Department to Finished Goods during the period (Apts) - 6. Operating expenses for the period (3pts) - 7. Beginning WIP balance in the Assembly Department (3pts) - & Total "Inventory" on the Balance Sheet at the end of the period (you can assume there's no Raw Materials) (pts) 9. Compared to February, how much more or less) did Rad Racing spend in March to complete one bicycle? (Apts) out of 30