PROBLEM I Sumter Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing depertment for a recent month: Required: 1) Prepare a worksheet showing 4 steps: number of units to account for, number of equivalent units produced, cost per equivalent unit, and the assignment of cost. 2) Answer the following questions from the worksheet you have prepared. a) What is the number of Equivalent units of direct material under FIFO? b) What is the number of Equivalent units of conversion cost under Weighted Average? c) Determine the total cost per equivalent unit (WA) d) Determine the cost of ending inventory(WA) e) Determine the cost of good units completed and transferred out (WA) f) How much is total cost accounted for ? B) Determine the cost to complete Bwif under Fifo (Show Work) C) Determine the cost of good units transferred out under fiFO (show work), (B) Problem I Harrell Company uses a predetermined overhead rate based on direct labor-hours to apply. manufacturing overhead (MOH) to jobs. At the beginning of the year the company estimated its total manufacturing overhead cost at $420,000 and its direct labor-hours at 80,000 hours. The actual overhead cost incurred during the year was $450,000 and the actual direct labor-hours incurred on jobs during the year was 75,000 hours. Assume that the company has the following accounts with ending balances as follows: The company allocates any balance in the MOH to the other inventory accounts based on their ending balances. Required: 1) Compute the predetermined overhead rate for the year. 2) Determine the amount of MOH underapplied or overapplied 3) Prepare the journal entry to record the MOH applied for the period. 4) Prepare the entry to dispose of the underapplied/overapplied MCH