Marzollo Handcraft is a manufacturer of picture frames for large retailers. Ever
ID: 2525011 • Letter: M
Question
Marzollo Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at Marzollo has a single direct-cost category (direct materials) and a single indirect cost category conversion costs Direct materials are added when the assembly department process is 10% complete. Conversion costs are in April 2014 added evenly during the assembly department's process. Marzollo uses the FIFO method of process costing. Consider the following data for the assembly department ?(Click the icon to view the data Click the icon to view the total costs assigned under the weighted average method Requirement 1. Summarize total assembly department costs for April 2014, and assign total costs to units completed (and transferred out) and to units in ending work in process. 2. Explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the assembly department under the weighted-average method and the FIFO method. Should Marzollo's managers choose the weighted-average method or the FIFO method? Explain brieflyExplanation / Answer
(AMOUNTS IN $)
The answer for requirement cannot be possible as the image for requirement does not specify any option to fill the blanks.
PARTICULAR equivalent units physical units direct materials conversion cost Work in progress, beginning 95 transferred in during curent period 490 to account for 585 completed and transferred out during current period from beginning work in progress 95 - 57 started and completed 360 360 360 Work in progress, ending 130 130 39 accounted for 585 equivalent units of work done in current period 490 456 PARTICULAR total production cost direct material conversion cost work in progress, beginning 2653 1665 988 costs added during the period 29496 17640 11856 total costs to account for 32149 19305 12844 PARTICULAR total production cost direct material conversion cost costs added in current period 17640 11856 divide by equivalent units 490 456 cost per equivalent unit 36 26 PARTICULAR total production cost direct material conversion cost comleted and transferred out work in progress, beginning 2653 1665 988 cost added to work in progress, beginning 1482 - 1482 total of beginning inventory 4135 started and completed 22320 12960 9360 total cost of units completed and transferred out 26455 work in progress, ending 5694 4680 1014 total cost 32149