Beginning Work$-$in$-$Process Inventory

Beginning Work In Process Inventory $-$ April $1-510$ Units

Direct Materials $$6\mathrm{.}920$

Conversion Costs $$36,590$ Ending Work$-$in$-$Process Inventory

Ending Work In Process Inventory $-$ April $30$ Autumn Manufacturing mass produces its product in three departments. A cost analysis for Department $1,$ the first department in the manufacturing cycle for the month of April, can be found in the exhibits. The company is analyzing costs as they have recently fluctuated significantly given an increase in raw material costs and labor.

For items $1-6,$ enter the appropriate amount in the associated cell. If the amount is zero, enter a zero $(0).$ Round all amounts to the nearest cent. For item $7,$ select from the option list provided the appropriate method. $1.$ Using the weighted$-$average method, what is the cost per equivalent unit for direct materials? $2.$ Using the weighted$-$average method, what is the cost per equivalent unit for conversion costs? $3.$ Using the weighted$-$average method, what is the total dollar value of Department $1$s ending inventory on April $30?4.$ Using the first$-$in$,$ first$-$out method, what is the cost per equivalent unit for direct materials? $5.$ Using the first$-$in$,$ first$-$out method, what is the cost per equivalent unit for conversion costs? $6.$ Using the first$-$in$,$ first$-$out method, what is the total dollar value of Department $1$s ending inventory on April $30?7.$ Given the increase in costs during the month of April and projected future volatility in materials and labor, which method would provide more accurate costing for control purposes for the company?Inventory Dashboard