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Assuming Crane Corp. uses the FIFO method of process costing, complete Steps $1$ to $5$ in the template to determine the cost of units completed in April as well as the cost of units in ending WIP Inventory in April. $($Round cost per equivalent unitlo$2$ dadinal places, e$.$g$.15\mathrm{.}25$ and final answers to $0$ decimal places, eg$.5,125)$

Total cost of units completed

Cost of units in ending WIP Inventory

Record the journal entry to recognize the cost of units completed and transferred out of the manufacturing process this month for the account tilles and enter $0$ for the amounts. List debit entry before credit entry$)$

Account Titles and Explanation

Debit

Credit

FG Inventory

WIP InventoryCurrent Attempt in Progress

Crane Corp. manufactures kitchen appliances and gadgets, llike coffee makers and can openers. Recently, the company rampedup production of its iced coffee brewer, anticipating increasing demand In the market. For the month of April, Crane reported the following activity and cost information for its only production process dedicated to these coffee trewers.

$\backslash$table$[[,$Units,Plastic,Mesh,Conversion Costs$],[$Units in beginning WIP Inventory,$800,,,],[$Beginning WIP Inventory degree of completion,,$100\%,100\%,70\%],[$Costs in beginning WIP Inventory,,$$3,380,$$$296,$$$2\mathrm{.}279],[$New units started,$14,700,,,],[$Costs added to WIP Inventory this period,,$$73,500,$$$7,480,$$$94,939],[$Units completed,$14,400,,,],[$Units in ending WIP Inventory,$1,100,,,],[$Ending WIP Inventory degree of completion,,$100\%,0\%,30\%]]$

The conversion costs are added evenly throughout this manufacturing process.