Problem $6-12($Static$)$ Interpreting a Report$-$Weighted$-$Average Method $[$LO$2,$ LO$3,$ LO$4]$

Parandah Electronics Ltd$.,$ located in England, assembles a standard electrical component from parts it purchases from various suppliers. The production process consists of several steps, starting with assembly, which takes place in the Assembly Department. The company recently hired a new accountant, who prepared the following report for the department for May, using the weighted$-$average method:

Quantity Schedule

Units to be accounted for:

Work in process, May $1($materials $90\%$ complete; conversion $80\%$ complete$)8,000$

Started into production $26,000$

Total units $34,000$

Units accounted for as follows:

Transferred to next department $28,000$

Work in process, May $31($materials $75\%$ complete; conversion $50\%$ complete$)6,000$

Total units $34,000$

Cost Reconciliation

Cost to be accounted for:

Work in process, May $113,400$

Cost added in the department $87,800$

Total cost to be accounted for $101,200$

Cost accounted for as follows:

Work in process, May $3112,450$

Transferred to next department $88,750$

Total cost accounted for $101,200$

The company$$s management would like some additional information about May$$s operation in the Assembly Department. $($The currency in England is the pound, denoted by the symbol $.)$

Required:

How many units were started and completed during May?

What were the equivalent units for May for materials and conversion costs?

What were the costs per equivalent unit for May? The following additional data are available concerning the department$$s costs:

Note: Round your answers to $2$ decimal places.

Materials Conversion Total

Work in process, May $19,0004,40013,400$

Costs added during May $56,00031,25087,250$

Calculate the material cost and the conversion cost of the ending work in process.

Note: Round Cost per equivalent unit to $2$ decimal places.

The new manager of the Assembly Department is asked to estimate the incremental cost of processing an additional $1,000$ units through the department. He takes the unit cost for an equivalent whole unit that you computed in $(3)$ above and multiplies this figure by $1,000.$ Will this method yield a valid estimate of incremental cost?

Can you please explain this in detail as I did not do well on my last assigment so I need help with understanding the material.