Units to account for options: Beginning work-in process, Completed and transferred out, Ending work-in process, and Transferred in

AquaMate uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. (Click the icon to view additional information.) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. AquaMate uses weighted average process costing. Read the requirements. Requirement 1. Prepare a production cost report for the Testing Department. (Round all cost per unit amounts to the nearest cent and all other amounts to the nearest whole dollar. Abbreviation used: EUP = equivalent units of production.) AquaMate Production Cost Report-Testing Department Month Ended August 31 Equivalent Units Physical Transferred Direct Conversion Units In Materials Costs UNITS Units to account for: Units to account for: Total units to account for Units accounted for: n/a n/a n/a Total units accounted for Choose from any list or enter any number in the input fields and then click Check Answer. country. AquaMate's Testing Department requires no direct materials. Conversion costs are incurred evenly throughout the testing process. Other information follows for the month of August: 1,700 units 7,300 units 3,700 units 5,300 units UNITS Beginning Work-in-Process Inventory Transferred in from Assembling Department during the period Completed during the period Ending Work-in-Process Inventory (40% complete for conversion work) COSTS Beginning Work-in-Process Inventory (transferred in costs, $91,000; conversion cost, $23,000) Transferred in from the Assembly Department during the period Conversion costs added during the neriod $ 114,000 719,000 23.560 1. Prepare a production cost report for the Testing Department. 2. What is the cost per unit for lifts completed and transferred out to Finished Goods Inventory? Why would management be interested in this cost