Global: Defense manufactures the Interceptor Missile at its- Camden- plant. It has two- departments: -Assembly Departmen

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Global Defense Manufactures The Interceptor Missile At Its Camden Plant It Has Two Departments Assembly Departmen 1 (488.94 KiB) Viewed 25 times

Global: Defense manufactures the Interceptor Missile at its- Camden- plant. It has two- departments: -Assembly Department and Testing Department. This problem focuses on the Testing Department. 1 Direct: materials are added: when the Testing Department process is 90% complete.-. Conversion costs are added evenly during the Testing Department's process. As work in- Assembly: Department is completed, each unit is immediately transferred- to the Testing- Department-As each unit is completed in the Testing-Department, it is immediately transferred- to-Finished-Goods. || Global Defense uses the weighted average method of process costing. Data for the Testing Department for October 2019-are || 20 Physical Transferred- | Direct 1 Conversion- Units in-Costsa Materialso Costsa (Missilesia Work-in-Process, 1 October 30a R985-8000 Roa R331 8000 Transferred-in during Octobera Completed during Octobera 1050 Work-in-Process, 31-October**a BO Total costs added during Octoberd a R3°192-8660 R3°885-0000 R1°581-000da *Degree-of-completion:-transferred-in-costs, ?%-direct-materials, 2% Conversion-costs. 70% **Degree of completion:-transferred-in-costs, ?%;-direct-materials, ?%;-Conversion costs, -60%7 12 COLE 01 301 Required:1 TO 4.1 Calculate the percentage of completion for the transferred-in-costs and direct materials in the beginning WIP inventory, as well as the for the ending WIP-inventory. I T 4.2 Prepare a production statement using the weighted average method | 4.3 - M Prepare a production statement using the FIFO method 11