xercise 16-16 leighted average: Production cost report P2 tiott Company produces large quantities of a standardized product. The following intormation is avalable for its first production departinent for March. Frepare a prodictice coit mport or this department using the weighted average method. theck cost per equivalent unit conversion, 125.91 Problem 166A FIFO: Cost per equivalent unit; costs assigned to products Cz2 Qualco manufactures a single product in two departments: Cutting and Assembly. Information for the Cutting department for May follows. 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute cost per equivalent unit of production for both direct materials and conversion. 3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. Check (1) EUP for materials, 195.750 Exorcise 164 Weighted average: Computing equivalent units Pi The first production department in a process manufacturing system reports the following unit data Compute this production department's equivalent usits of production for direct materials under each of the following three separate assumptions using the weighted average metbod a. All direct materials are added to products when processing begins. b. Beginning inventory is 4096 complete as to direct materials costs. Ending inventory is 75% complete as to direct materials costs c. Beginning imventory is 6046 conplete as to direct materials costs. Incing inventory is zoqu complete as to direct materials costs. Exersise 1654 FIFO: Computing equivalent units C2 Fefer to the information in Exercise 16-4 and compute the department's equivalent units of production for tirect materials for vach of the three separate assumptions a b, and cusing 1IFO method. Problem 16-2A Weighted average: Production cost report P2P4 Fast Co. produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows. Required 1. Prepare the Cutting department's production cost report for October using the weighted average method. 2. Prepare the October 31 journal entry to transfer the cost of completed units from Cutting to Assembly. Check (1) Costs transferred out, 5982.500 Exercise 16-4 Weighted average: Computing equivalent units P1 The first production department in a process manufacturing system reports the following unit data Compute this production department's equivalent units of production for direct materials under each of the following three weparate assumptioas using the weighted average niethod. a. All direct materials are added to prodvcts when prosessing begin. b. Beginning inventory is 40% complete as to direct materials costs. Ending inventory is 75% complete as to direct materials costs. c. Heginning inventory is 6096 complete as to direct materials costs. Ending inventory is jo96 complete as to direct materials costs