Need help with questions on my Managerial Decisions final, problems 3 & 4: Process Costing

Step TWO: Perform Calculations \& Explain Methods For each problem (found in Appendix A): 1. Use your plan of action to solve each problem found in Appendix A, clearly outlining the procedures used, providing a concise explanation of each step, labeling relevant formulas, and showing worked out calculations and complete solutions. You may use a calculator or Excel spreadsheet to help perform the necessary calculations, but all corresponding work must be shown completely. 2. Answer all questions posed in the problem; if applicable, analyze and evaluate your results and provide a contextual explanation of the solutions you obtained. 3. Review your calculations and solutions and make sure that an external viewer would be able to follow your methodology and make sense of your calculations and corresponding explanations. Make certain that you have completed all steps of each problem. Step THREE: Complete Checklist for Submission Before you submit your work, check to see if you have met the criteria noted below. Did you: Answer all parts of each question completely and accurately? Provide clear and accurate steps, calculations, and solutions? Include an insightful analysis and evaluation of results where relevant? Problem \#3: Process Costing Calculate the number of equivalent units for each of the following independent cases. 1. A trade school has 1,000 students enrolled in classes during the current term. The dean is interested in knowing the number of full-time equivalent students enrolled. The average student takes 40% of a full load of classes. What is the number of full-time equivalent students? 2. A total of 8,500 units of product remain in the Finishing Department at the end of the year. Direct materials are 60% complete, and direct labor is 50% complete. What amount of equivalent units remain in the Finishing Department for direct materials and direct labor at year end? 3. The natal care unit of a Hope Hospital has 50 nurses working on a part- time basis, with the average nurse working 70% of a full load. What is the number of full-time equivalent nurses employed by the hospital? 4. A total of 3,000 units of product remain in the Fabricating Department at the end of the year. These products are 45% complete with respect to direct materials and 20% complete in terms of direct labor. What is the equivalent units remaining in the Fabrication Department for direct materials and direct labor at year end? Problem \#4: Process Costing Use the following information to calculate the cost per equivalent unit for direct materials, direct labor, overhead, and in total for the Assembly Department of Dessert Company for the month of June