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ReefWave uses three processes to manufacture lifts for personal watercraft forming a lift's parts from galvanized The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department steel, assembling the lift, and testing the completed lift costing ReefWave uses weighted-average process Read the requirements (Click the icon to view additional information ) Requirement 1. Prepare a production cost report for the Testing Department (Round all cost per unit amountsto tea More Info ReefWave Production Cost Report-Testing Department Month Ended August 31 The lifts are transferred to Finished Goods Inventory before shipment to marinas across the country. ReefWave's Testing Department requires no direct materials. Conversion costs are incurred evenly throughout the testing process. Other information follows for the month of August Equivalent Units UNITS Beginning Work-in-Process Inventory Transferred in from Assembling Department during the period Completed during the period Physical Transferred Direct Coversion 2.400 units 7,500 units 4,200 units 5,700 units UNITS Units In Materials Costs Units to account for Ending Work-in-Process inventory (40% complete for conversion work) COSTS Total units to account for Beginning Work-in-Process Inventory (transferred in costs, $94,000 conversion cost, $21.000) Transferred in from the Assembly Department during the peiod e Windows 727.700 Conversion costs added during the periood S 115,000 Choose from any list or enter any number in the input fields and then continue to the next question. Go to PC settings to activ3(800 ndo ReefWave uses three processes to manufacture lifts for personal watercraft forming a lift's parts from galvanized The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. steel, assembling the lift, and testing the completed lift. ReefWave uses weighted-average process costing. Read the requirements (Click the icon to view additional information ) n/a Total units accounted for Transferred irct Conversion TotalRequirements COSTS In Materials Costs Costs Costs to account for 1. Prepare a production cost report for the Testing Department. 2. What is the cost per unit for lifts completed and transferred out to Finished Goods Inventory? Why would management be interested in this cost? Total costs to account for n/a Print Done Cost per equivalent unit Activate Windows Choose from any list or enter any number in the input fields and then continue to the next question. ReefWave uses three processes to manufacture lifts for personal watercraft forming a lift's parts from galvanized The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department steel, assembling the lift, and testing the completed lift (Click the icon to view additional information) ReefWave uses weighted-average process costing. Read the requirements Cost per equivalent unit Costs accounted for n/a n/a Requirements Total costs accounted for Requirement 2. What is the cost per unit for lifts completed and transferred out to Finished Goods Inventory? Why wo 1. 2. Prepare a production cost report for the Testing Department What is the cost per unit for lifts completed and transferred out to Finished Goods Inventory? Why would management be interested in this cost? The cost per unit for lits completed and transferred out to Finished Goods Inventory is per In Why would management be interested in the cost per unit for lifts completed and transferred out to Finished Goods Inve O A. Managers would compare the average cost per lift against their budgeted costs to determine whether the costs per lift, then the managers have done a good job controlling costs. In contrast, if the budgeted costs are lower th an effort to regain control over costs. Print Done B. ( Choose from any list or enter any number in the input fields and then continue to the next question Managers use the cost per lift for external financial reporting specifically to calculate the Cost of Goods Sold onthe income Sai ment Activate Windows