Label question 1 and 2 please

17-42 FIFO method (continuation of 17-41). 1. Complete Problem 17-41 using the FIFO method of process costing. 2. If you did Problem 17-41, explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted-average method and the FIFO method. Should McKnight's managers choose the weighted-average method or the FIFO method? Explain briefly. Required 17-41 Weighted-average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly department's process. McKnight uses the weighted-average method of process costing. Consider the following data for the assembly department in April 2017: Physical Unit (Frames) Direct Materials Conversion Costs Work in process, April 1 60 $ 1,530 $ 156 510 Started during April 2017 Completed during April 2017 Work in process, April 30 450 120 $17,850 $11,544 Total costs added during April 2017 "Degree of completion: direct materials, 100%; conversion costs, 40%. Degree of completion: direct materials, 100%; conversion costs, 15%