Exercise 4-17 Equivalent Units; Weighted-Average (LO 4-1, 4-3) Rainbow Glass Company manufactures decorative glass products. The firm employs a process-costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are Incurred uniformly throughout the process. The company's production schedule for October follows: Units Work in process on October 1 (65% complete as to conversion) 3,030 Units started during October Total units to account for Units from beginning work in process, which were completed and transferred out during October 3,603 Units started and completed during October 2,703 Work in process on October 31 (30* complete as to conversion) 2,303 Total units accounted for Required: Calculate each of the following amounts using weighted-average process costing. 1. Equivalent units of direct material during October. 2. Equivalent units of conversion activity during October. Equivalent Units 1. Direct material 2. ConversionExercise 4-20 Cost per Equivalent Unit; Weighted-Average (LO 4-1, 4-3, 4-4) Idaho Lumber Company grows, harvests, and processes timber for use In construction. The following data pertain to the firm's sawmill during November. Work in process, November 1 Direct material $ 98, 030 Conversion 122, 393 Costs incurred during November Direct material $534, 030 Conversion 653, 690 The equivalent units of activity for November were as follows: 7,900 equivalent units of direct material and 2,500 equivalent units of conversion activity. Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing. Cost per Equivalent Unit Direct material ConversionThe November production of MVP's Minnesota Division consisted of batch P25 (3.600 professional basketball) and batch 833 (6,000 scholastic becketballs) Each batch was started and finished during November, and there was no beginning or ending work In process. Costs Incurred were as follows: Direct Material: Butch P25, $118,800, Including $9,500 for packaging material; batch 933, $93,000. Conversion Costs: Preparation Department, predetermined rate of $6.60 per unit; Finishing Department, predetermined rate of $5.00 per unit: Packaging Department, predetermined rate of $0.50 per unit. (Only the professional balls are packaged ) Exercise 4-24 Part 1 Required: 1. Identify the diagram depicting the division's batch manufacturing process based on the Information provided. Multiple Choice O Diagram of production process: Preparation Department Commer tion coult Work-ti-Process Ininbary Lecurulated Direct-modtrial by bitch Finished Goods Inwentray O Diagram of production process: York-in-Procede Inventory Conversion cant Manufacturing overheed Finithing Department Grect-amerind Bry butch Work-in-Proce s mantay Finished-Goods Inventory O Diagram of production process: Preparation Department Convertion coats Hinthing Cupavisen by bitch Work-in-Process Inventory Packaging Cpatient Finished Goods Inventory