Weighted-average method.

McKnight Handcraft 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 assembly department. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added at the beginning of the process. Conversion costs are added evenly during the assembly department's process.

McKnight uses the weighted-average method of process costing. Consider the following data for the assembly department in April 2014:

	Physical Unit (Frames)	Direct Materials	Conversion Costs
Work in process, April 1a	60	$ 1,530	$ 156
Started during April 2014	510
Completed during April 2014	450
Work in process, April 30b	120
Total costs added during April 2014		$17,850	$11,544

a Degree of completion: direct materials, 100%; conversion costs, 40%.

b Degree of completion: direct materials, 100%; conversion costs, 15%.

Required: 1. Summarize the total assembly department costs for April 2014, and assign them to units completed (and transferred out) and to units in ending work in process using the weighted average method.

2. Summarize the total assembly department costs for April 2014, and assign them to units completed (and transferred out) and to units in ending work in process using the FIFO method of process costing.

3. Should McKnight's managers choose the weighted-average method or the FIFO method? Explain briefly (aprox 50 words max)