Required: Using average method, compute for the following

1. Equivalent production for materials. Labor and overhead

2. Costs of units completed and transferred

3. Costs of units in process, end

A toy manufacturer has two departments, forming and finishing. Consider the finishing department, which processes the formed toys through the addition of hand shaping and metal. All additional materials in this department arc added at the end of the process. The following is a summary of the operations in the finishing department. Units: Work in process, beg. - 5,000 units. 60% completed for conversion costs Units transferred in - 20,000 Work in process, end - 4,000 units, 30% completed for conversion costs Costs: Work in process, beg.- (transferred-in costs, P 17,750, conversion costs, P7,250) Transferred-in costs from forming department P 104,000 Direct materials 23,100 Conversion costs 38,400