3. Given below are the production data for Department No. 1 for the first month of...

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3. Given below are the production data for Department No. 1 for the first month of operation: Costs charged to Department 1: Direct Materials $12,000 Labor 2,600 Overhead 15,900 During this first month of operations, 4,000 units were started into production; 3,500 units were completed and transferred out; and the remaining 500 units are 100% completed with respect to materials and 40% complete with respect to conversion costs. Instructions Compute the following: (a) Unit materials cost (b) Equivalent units of production for conversion costs (c) Unit conversion cost (d) Total cost of 500 units in process at end of month (e) Total cost of 3,500 units completed and transferred out 4. List three ways you can use a department production cost reports to evaluate that department. Explain your answers. 3. Given below are the production data for Department No. 1 for the first month of operation: Costs charged to Department 1: Direct Materials $12,000 Labor 2,600 Overhead 15,900 During this first month of operations, 4,000 units were started into production; 3,500 units were completed and transferred out; and the remaining 500 units are 100% completed with respect to materials and 40% complete with respect to conversion costs. Instructions Compute the following: (a) Unit materials cost (b) Equivalent units of production for conversion costs (c) Unit conversion cost (d) Total cost of 500 units in process at end of month (e) Total cost of 3,500 units completed and transferred out 4. List three ways you can use a department production cost reports to evaluate that department. Explain your answers.