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Mundy Handicraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments, the assembly department and the finishing department. This problem focuses on the assembl direct cost category (direct materials and a single indirect cost category conversion costs) Drect materials are added when the assembly department process is 10% complete Conversion costs are added evenly during method of process costing Consider the following data for the assembly department in April 2014 Cick the konto vew the data) Click the icon to view the total costs assigned under the weighted average method.) Requirement 1. Surmanze total assembly department costs for April 2014, and assign total costs to units completed (and transferred out) and to unitsin 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 FIFO melhor? Explan briefly Work in process, beginning Data Table Transferred-in during current period To account for Completed and transferred out during current period Physical Units Direct Conversion From beginning work in process Frames) Materials Costs Started and completed Beginning work in process, April 1) Work in process, ending Started during April 2014 Completed during April 2014 465 Accounted for Ending work in process (Apr 30 180 Equivalents of work done in current period Total costs added during April 2014 $16.160 5 9, 156 Degree of can didats 100% 40% Now summarize the total costs to account for Degree of completion de s 100% conversion cost 15% Print Done Choose from any istoranter my number the input folds and then continue to the next question undy Handicraft is a matter of picture frames for large retailers Every picture frame passes through two departments the sembly department and the finishing department. This problem focuses on the assembly department. The process-cost rect-cost category direct materials and angle indeed cost category conversion costs) Oveci materiae added when the assembly department process is 10% complete Conversion costs are added evenly during the sembly department's proc wethod of process costing Consider the following data for the assembly department in April 2014 m (Click the icon to view the data) Click the icon to view the total costs assigned under the weghted average method) Data Table Requirement 1. Surmareste ntly department costs for April 2014, and too ls to units completed and transferred out and to units 2. Explain any interence between the cost of work completed and waferred out and the cost of ending skin process in the assem Physical Units Direct Conversion Ers choose new FIFO methodEplantely Frames) Materials Costs Beginning work in process, April 1) 140 $150 $192 Production Costs Materials Started during Apr 2014 Completed and transferred out Completed during Apr 2014 Ending work in process, April 30" Total costs added dung April 2014 $16,160 $9,156 Degree of common red mar c o 15% Total costs of uncledda u 1 Reference Conversion Requirement. Expany ence between the cost of work completed and method of the FIFO med? Explainbriely red out and the cost of ending work in process in Total Production Costs Direct Materials Completed and Vansferred out yeen the col o u ring work byded The ending on process ory is her the weed average ending inventory This is because FFO $ 2808 Total cost counted low 10350 Choose from anyo ne n umber in the routes and then continue to the next question Mundy Handicraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments, the assembly department and the finishing department. This problem focuses on the assembl direct cost category (direct materials and a single indirect cost category conversion costs) Drect materials are added when the assembly department process is 10% complete Conversion costs are added evenly during method of process costing Consider the following data for the assembly department in April 2014 Cick the konto vew the data) Click the icon to view the total costs assigned under the weighted average method.) Requirement 1. Surmanze total assembly department costs for April 2014, and assign total costs to units completed (and transferred out) and to unitsin 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 FIFO melhor? Explan briefly Work in process, beginning Data Table Transferred-in during current period To account for Completed and transferred out during current period Physical Units Direct Conversion From beginning work in process Frames) Materials Costs Started and completed Beginning work in process, April 1) Work in process, ending Started during April 2014 Completed during April 2014 465 Accounted for Ending work in process (Apr 30 180 Equivalents of work done in current period Total costs added during April 2014 $16.160 5 9, 156 Degree of can didats 100% 40% Now summarize the total costs to account for Degree of completion de s 100% conversion cost 15% Print Done Choose from any istoranter my number the input folds and then continue to the next question undy Handicraft is a matter of picture frames for large retailers Every picture frame passes through two departments the sembly department and the finishing department. This problem focuses on the assembly department. The process-cost rect-cost category direct materials and angle indeed cost category conversion costs) Oveci materiae added when the assembly department process is 10% complete Conversion costs are added evenly during the sembly department's proc wethod of process costing Consider the following data for the assembly department in April 2014 m (Click the icon to view the data) Click the icon to view the total costs assigned under the weghted average method) Data Table Requirement 1. Surmareste ntly department costs for April 2014, and too ls to units completed and transferred out and to units 2. Explain any interence between the cost of work completed and waferred out and the cost of ending skin process in the assem Physical Units Direct Conversion Ers choose new FIFO methodEplantely Frames) Materials Costs Beginning work in process, April 1) 140 $150 $192 Production Costs Materials Started during Apr 2014 Completed and transferred out Completed during Apr 2014 Ending work in process, April 30" Total costs added dung April 2014 $16,160 $9,156 Degree of common red mar c o 15% Total costs of uncledda u 1 Reference Conversion Requirement. Expany ence between the cost of work completed and method of the FIFO med? Explainbriely red out and the cost of ending work in process in Total Production Costs Direct Materials Completed and Vansferred out yeen the col o u ring work byded The ending on process ory is her the weed average ending inventory This is because FFO $ 2808 Total cost counted low 10350 Choose from anyo ne n umber in the routes and then continue to the next