Echinacea Corp. has two departments, assembly and finishing.The following information for March 20x9 is available. Assembly Two

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Question:

Echinacea Corp. has two departments, assembly and finishing.The following information for March 20x9 is available.

Assembly

Two direct materials are added to the product in the assembly department.Raw material A is added at the beginning of the process.Raw material B is added when the units are 20% complete.

Beginning WIP3,575 units(58% converted)

$12,540Raw Material A

$7,150Raw Material B

$11,365Conversion Costs

Started in March46,105units

Good units completed47,094units

Normal spoilage?units

Abnormal spoilage42units

Ending WIP2,404 units(45% converted)

March costs incurred in the Assembly Department

$173,856Raw Material A

$94,407Raw Material B

$250,845Conversion Costs

Finishing

There is one additional direct material added to the product.It is added at when the units in the finishing department are 40% complete.

Beginning WIP3,774 units(42% converted)

$101,898Transferred in Costs

$19,020Direct Materials

$11,322Conversion Costs

Good units completed48,389units

Normal spoilage135units

Abnormal spoilage77units

Ending WIP? units(58% converted)

March costs incurred in the finishing department:

$208,885Direct Materials

$132,628Conversion Costs

Required:

a.Calculate equivalent units, cost per equivalent units and allocate all costs for the Assembly Department using weighted average process costing.

b.Record all journal entries required in Assembly using the numbers from "a" (Including but not limited to purchases, labor, overhead, $ in and out of WIP.)

c.Show a t-account for WIP.

d.Calculate equivalent units, cost per equivalent units and allocate all costs for both departments using FIFO process costing.Show a t-account for WIP for both departments.

e.Record the journal entries needed at the end of the month only for the finishing department based on the allocated numbers in "d".