18-26 Weighted-average method, equivalent units and unit costs. [Excel template] (LO 3)Consider the following data for the assembly division of Fenton Watches Inc.:

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The table is as follows.

Blank	Physical Units	Direct Materials	Conversion Costs
Beginning work in process, May 1 asterisk	80	$ 493,360	$ 91,040
Started in May	500	Blank	Blank
Completed during May	460	Blank	Blank
Ending work in process, May 31 dagger	120	Blank	Blank
Costs added during May	Blank	$3,220,000	$1,392,000

Superscript asterisk, Degree of completion, direct materials, 90%, conversion costs, 50%. Superscript dagger, Degree of completion, direct materials, 60%, conversion costs, 30%.

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The assembly division uses the weighted-average method of process costing.

Required

Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.

Check Figure: Direct materials equivalent units, 532

18-27 Weighted-average method, assigning costs(continuation of Exercise 18-26).(LO 3)

Required

For the data in Exercise 18-26, summarize total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign total costs to units completed (and transferred out) and to units in ending work-in-process.

Check Figure: Total cost of work-in-process, ending $610,200

18-28 FIFO method, equivalent units. (LO 4)Refer to the information in Exercise 18-26. Suppose the assembly division at Fenton Watches Inc. uses the FIFO method of process costing instead of the weighted-average method.

Required

Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.

Check Figure: Direct materials equivalent units, 460

18-29 FIFO method, assigning costs(continuation of Exercise 18-28).(LO 4)

Required

For the data in Exercise 18-26, use the FIFO method to summarize total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign total costs to units completed (and transferred out) and to units in ending work-in-process.

Check Figure: Total cost of work-in-process, ending, $613,895