Parter Handcratt is a manutacure o picture trames tor large

| Parter Handcratt is a manutacure o picture trames tor large retailers Fvery picture trame passes through two departments the assembly department and the finishing department This problem tocssn the assembly department The proonss-rnsting system st Porter nas ? single direct cost category direct materials and a sngle indirect costce egory converson costs Direct meterials are added when the assembly department process is 10% complete. Conversion costs ere ?dded even during the assemb departmen\'s process. Porter uses the FIFO method of process costing. Consider the following data for the assembly departrient irn April 2014 EEE (Click the icon to wiew the data.) (Click the icon to view the total costs assigned under the weighted-average method.) 1. ummarize total asscmbly department costs for April 2014, and assign total costs to units complcted (arnd transfced 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 wcighted-avcrage mcthod or the FIFO methoxd? Explain bricly. Started and completed 330 380 330 140 110 19 Work in process, ending 183 Fquvalent units ot work done in current penod Now suruiarize he total cosis to account fo Total Direct Conversion Production Costs Materlals Costs Tolal costs lo account for Total Direct Conversion Physical Uits Direct Converslon (Frames) MaterialsCosts Production Costs Materials Costs $1,239 Beginning work in process, (Ap) Siarted during April 2014 Completed during April 2014 Coinipleled and ranisferred out Work in process, ending Tolal costs accourited for 26,320 S 5,829 3749 5 9,870 1,029 S 21,350 $10899 16,450 3 4,900 S 520 170 140 Fnding work in process, (April 309 Tolal cosis added durirn April 2014 anenree arrnmpetinn ctirect matrrtak 1M7%, r.nwrrscn r.nsts. 40% oDogrce or compiction: dlrect materials, 100%; conversion costs. 35%. $19,240 9,800

Solution

Total Production Costs Direct Materials Conversion Costs Beginning work in process 3349 2110 1239 Costs added during April 28900 19240 9660 Total costs to account for 32249 21350 10899