The smelting department of Company X has following production and cost data for September:

Production: No beginning work in process; units started into production 1,000 units; units transferred out to next department 900 units; ending work in process 100 units that are 100% complete as to materials and 4z% complete as to conversion costs.

Manufacturing costs: In current period, TL50,x00 worth of materials, TL25,y00 worth of labor and TL3t,000 worth of manufacturing overhead costs are incurred.

(a) (15 points) Assuming Company X uses WA method to compute equivalent units: i. Summarize the flow of physical units

ii. Compute output in terms of equivalent units iii. Compute total and unit costs iv. Prepare a cost reconciliation schedule and assign costs to transferred out and ending inventory

(b) (15 points) Assuming Company X uses FIFO method to compute equivalent units: i. Summarize the flow of physical units

ii. Compute output in terms of equivalent units iii. Compute total and unit costs iv. Prepare a cost reconciliation schedule and assign costs to transferred out and ending inventory

(c) (10 points) Compare the value of transferred out and ending inventory for WA method in Part (a) to the value of transferred out and ending inventory for FIFO method in Part (b). Are they equal? Why/Why not?

FOR x=5, y=3, z=6, t=5