Kali Manufacturing Inc. began the year with the following.Units Beginning work-in-process 20,000 20% completeTransferred to finished goods 60,000Ending inventory 10,000 70% completeMaterials are added at the beginning of the processRequiredCalculate the equivalent units fora. material costs under the weighted average process cost method;b. conversion costs under the weighted average process cost method;c. material costs under the FIFO process cost method; andd. conversion costs under the FIFO process cost method.Problem 2:Glass Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows.Production Data unitsIn process, beginning of month (20% converted) 2000Started during current month 8000Completed and transferred to finished goods 5500In process, end of month (60% converted) 4500Manufacturing Costs Work in process, beginning-Materials $15,000-Conversion $6,450Production Costs Added-Materials $54,000-Direct labor cost $105,000-Factory overhead cost $36,150RequiredPrepare a cost of production report for current month. Use Weighted-Ave process costing.
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