This Quiz: 35 pls possible Porter Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments the ambly department and the finishing department. This problem focuses on the assembly department. The process costing system at Porter has a single direct cost category (direct materials) and a single indirect-cost category (conversion costs) Direct materials are added when the assembly department process is 10% complete Conversion costs are added evenly during the assembly department's process. Porter uses the FIFO method of process conting Consider the following data for the assembly department in April 2017 (Click the icon to view the data.) (Click the icon to view the total costs assigned under the weighted average method) Read the requirements Requirement 1. Summarize total assembly department costs for April 2017, and assign total costs to units completed (and transferred out) and to unites in ending work in process Begin by calculating the physical units and equivalent units (For amounts with a balance, make sure to enter "e" in the appropriate coll) Equivalent Units Physical Units Direct Conversion (ton) Mate Costs Work in process, beginning 90 Transferred in during current period 515 To account for Choose from any list or enter any number in the input Delds and then continue to the next question 2 2 of 2 (1 complete) i Data Table Conversion Costs $1,307 Physical Units Direct (Frames) Materials Beginning work in process, (April 1) 90 $1,155 Started during April 2017 515 Completed during April 2017 465 Ending work in process, (April 30) 140 Total costs added during April 2017 $16.995 Degree of completion direct materials, 100% conversion costs, 40% Degree of completion direct materials 100% conversion costs 10% $10.189 Requirements 1. Summarize total assembly department costs for April 2017 and assign them to units completed and transferred out) and to units in ending work in process 2. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted average method and the FIFO method Should Porter's managers choose the weighted average method or the FIFO method? Explain briefly Print Done Porter Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two department. The process-costing system at Porter has a single direct-cost category (direct materials) and a sing complete. Conversion costs are added evenly during the assembly department's process, Porter uses the FIFO (Click the icon to view the data.) (Click the icon to view the total costs assigned under the weighted Read the requirements Physical Units (tons) Equivalent Units Direct Conversion Materials Costs Work in process, beginning Transferred-in during current period 90 515 To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending 90 140 Choose from any list or enter any number in the input fields and then continue to the next question Porter Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two d Department. The process-costing system at Porter has a single direct-cost category (direct materials) and a single complete. Conversion costs are added evenly during the assembly department's process. Porter uses the FIFO (Click the icon to view the data.) (Click the icon to view the total costs assigned under the weighted Read the requirements Powerwy Accounted for Equivalent units of work done in current period Now summarize the total costs to account for Total Production Costs Direct Materials Conversion Costs Total costs to account for Next calculate cost per equivalent unit for direct materials and conversion costs Choose from any list or enter any number in the input fields and then continue to the next question s Question: 17 pts 2 of 2 (1 complete) Porter Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments the assembly department and the finis department. The process costing system at Porter has a single direct cost category (direct materials) and a single indirect cost category (conversion costs) Direct complete Conversion costs are added evenly during the assembly department's process. Porter uses the FIFO method of process costing Consider the following (Click the icon to view the data) (Click the icon to view the total costs assigned under the weighted average method) Read the requirements Next calculate cost per equivalent unit for direct materials and conversion costs Direct Conversion Materials Costs Divide by Cost per equivalent unit Assign total costs to units completed (and transferred out) and to unitsin ending work in process Begin by calculating the total from beginning inventory, then calcula make sure to enter "O" in the appropriate coll) Total Direct Conversion Production Costs Materials Costs Choose from any est or enter any number in the input fields and then continue to the next