Equivalent Units and Product Cost ReportWeighted Average Method In its first months operations (January 2019), Schramiski Companys Department 1 incurred charges of $120,000 for direct materials (10,000 units), $29,875 for direct labor, and $58,000 for manufacturing overhead. At month- end, 9,000 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Schramiski uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following: The equivalent units of materials and conversion costs. The cost per equivalent unit of materials and conversion costs. The total cost assigned to the units transferred out. The total cost assigned to the ending inventory. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for.

Round average cost per equivalent unit to two decimal places, if applicable. Round other answers to the nearest whole number, when appropriate. Schramiski Company Department 1 Flow of Units and Equivalent Units Calculation Equivalent Units % Work % Work Direct Conversion Materials done Done Costs 100 % 100 % Complete/Transferred 9,000 9,000 9,000 25 % 250 Ending Inventory 100% 1,000 1,000 Total 9,250 10,000 10,000 a. . Product Cost Report Direct Conversion Materials Costs Beginning Inventory $ 19,250 0 $ 0 0V 0 X Current 120,000 0 x Total Costs to Account For $ 19,250$ 120,000 $ 0 X 0 X Total Equivalent Units 0 xb 0 Xb.$ $ Average cost / Equivalent unit Complete Transferred: $ Direct Materials 9,000 Conversion costs 0 X Cost of Goods Manufactured $ 0 X C. Ending Inventory: Direct Materials $ 0% Conversion costs 0 X Cost of Ending Inventory 0 x d $ 0 Xe Total Costs Allocated