Question: Please provide answers with solutions for the required items below. Thank you so much. Craft Concept manufactures small tables in its Processing Department. Direct materials

Please provide answers with solutions for the required items below. Thank you so much.

Please provide answers with solutions for the
Craft Concept manufactures small tables in its Processing Department. Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to nondetectable materials defects. Spoiled units generally constitute 5% of the good units. Data for December 20x3 are as follows: WIP, beginning inventory 12/1/20x3 10,000 units Direct materials (100% complete) Conversion costs (75% complete) Started during December 40,000 units Completed and transferred out 12/31/2013 38,400 units WIP, ending inventory 12/31/2036 8,000 units Direct materials (100% complete) Conversion costs (65% complete) Costs for December: WIP, beginning Inventory: Direct materials $ 50,000 Conversion costs 30,000 Direct materials added 100,000 Conversion costs added 140,000 - What is the total cost per equivalent unit using the FIFO method of process costing? - What cost is allocated to abnormal spoilage using the FIFO processcosting method? - What is the total cost assigned to ending work in process using the weighted-average process-costing method? - What is the total cost assigned to ending work in process using the FIFO processcosting method? - What is the total cost of units transferred out using the weightediaverage processicosting method

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