Help with problem 3-4A

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Prepare a process cost summary report for this company, showing costs charged to production, units cost information, equivalence units of production, cost per EUP, and its cost assignment and reconcillation The company provides incentives to its department managers by paying monthly bonuses based on their success in controlling costs per equivalent unit of production. Assume that the production department underestimates the percentages of completion for units in ending inventory with the result that its equivalent units of production in ending inventory for March are understated. What impact does this error have on the March bonuses paid to the production managers What impact, if any, does this error have on April bonuses Fast Co, produces its product through a single processing department. Direct materials are added at the start of production, and direct labor and overhead are added evently throughout the process. The company uses monthly reporting periods for its weighted-average process cost accounting system. Its Goods in Process Inventory account follows after entries for direct materials, direct labor, and overhead costs for October. Its begining goods in process consisted of $59,450 of direct materials, $172,800 of direct labor, and $103,680 of factory overhead. During October, the company started 140,000 units and transferres 150,000 units to finished goods. At the end of the month, the goods in process inventory consisted of 20,000 units that were 80% complete with respect to direct labor and factory overhead. Required Prepare the company's process cost summary for October using the weighted-average method. Prepare the journel entry dated October 31 to transfer the cost of the completed units to finished goods inventory