Weighted$-$average method. Hoffman Company manafactures car seats in its Boise plant. Each car scat passes through the assembly department and the testing department. This problem focuses on the assembly department. The process$-$costing system at Hoffenan Company has a single directcost category $($direct materials$)$ and a single indirect$-$cost category $($coenversion materials are added at the costs$).$ Direct beginning of the process. Conversion costs are added evenly during the process. When the assembly department flinishes work on esch ear seat, it is immediately transferred to testing.

Hoffiman Company uses the weighted$-$average method of process costing. Data for the assembly department for October $2019$ are as follows:

$\backslash$table$[[,$Physical Units $($Car Seats$),$Direct Materials,$\backslash$table$[[$Conversion Costs$],[$$ $241,650]]],[$Work in process, October $1^{**},\backslash$table$[[4\mathrm{.}000],[22,500]],$$$1,248,000,],[$Started during October $2022,,,],[$Completed during October $2022,26,000,,],[$Work in process, October ${31}^b,500,$$$4,635,000,$$$2,575,125],[$Total costs added during Oetober,,,$]]$

${?}^2$ Degree of completion: direct materials, $7\%$; conversion costs, $45\%.$

${?}^b$ Degree of completion: direct materials, $7\%$; conversion costs, $65\%.$

Part A $-20$ points

Required:

For each cost category, compute equivalent units in the assembly department. Show physical units in the first column of your schedule.

For each cost category, summarize total assembly department costs for October $2022$ and calculate the cost per equivalent unit.

Assign costs to units completed and transferred out and to units in ending work in process.

Required:

Do above problem use the FIFO method of process costing.

Weighted Average Method

COMPANY

Production Cost Report

Month Ended

UNITS

Units to account for:

Beginning WIP

Started in production

Total units to account for

Units accounted for:

Beginning WIP

Started and completed

Ending work$-$in$-$process

Total units accounted for

Costs To Account For:

Costs in Beginning WIP

Current period costs

Total costs to account for

Divided by: Total EUP

Cost per equivalent unit

Costs accounted for:

Transferred Out

Ending WIP inventory

Direct Material

Conversion

Total costs accounted for

$\backslash$table$[[,$Equivalent Units$],[$Physical$,$Direct,Conversion$],[$Units$,$Materials,Costs$]]$

$\backslash$table$[[4\mathrm{.}000],[22\mathrm{.}500]]$

Direct

Materials

$\backslash$table$[[,,],[,,],[,,],[,,],[,,]]$

$$

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