THE FOLLOWING INFORMATION APPLIES TO QUESTIONS BELOW:

The Tokiwa chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 82,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 3,000 chairs in ending inventory at the Assembly Department. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The beginning work in process was 20% completed as to conversion costs, while the ending work in process was 70% completed as to conversion costs. Using two methods to answer to the questions below.

Beginning inventory:

Direct materials $31,750

Conversion costs $100, 450

Manufacturing costs added during the accounting period:

Direct materials $168,000

Conversion costs $278,000

Answers with the weighted average method

W1. What were the equivalent units for direct materials and conversion costs during February?

units tran

W2. What are the costs per equivalent unit for direct material and conversion costs?

W3. What are the dollar values of direct materials and conversion costs assigned to the ending work-in-process inventory in February?

W4. What is the cost of the goods transferred out from Assembly Department to Finish Department during February?

Answers with the FIFO method (keep four decimal places)

F1. What were the equivalent units for direct materials and conversion costs during February?

F2. What are the costs per equivalent unit for direct material and conversion costs

F3. What are the dollar value of direct materials and conversion costs assigned to the ending work-in-process inventory in February?

F4 What is the cost of the goods transferred out from Assembly Department to Finish Department during February?