fill in blanks please. let me know how you came to calculations. **Overview: Calculation of Equivalent Units of Production for Monga's Assembly Department**Monga manufactures cell phones. The conversion costs to produce cell phones for November are added evenly throughout the process in the Assembly Department. The company uses the weighted-average method. For each of the following separate assumptions, calculate the equivalent units of production for conversion costs in the ending Work-in-Process Inventory for the Assembly Department:1. 6,000 cell phones were 75% complete2. 26,000 cell phones were 25% complete**Formula for Calculating Equivalent Units of Production:**\[ \text{Units in Ending Inventory} \times \text{Percentage Completion} = \text{Equivalent Units of Production} \]### Assumption 1: - **Inventory**: 6,000 cell phones were 75% complete.- **Calculation**: - Equivalent units for conversion costs = 6,000 x 0.75 = 4,500### Assumption 2:- **Inventory**: 26,000 cell phones were 25% complete.- **Calculation**: - Equivalent units for conversion costs = 26,000 x 0.25 = 6,500This approach allows Monga to assess how much work has been completed in terms of equivalent full units, which is crucial for process costing in manufacturing.

Equivalent units of production means that when whole of units has not been completed and it is still…

Monga manufactures cell phones. The conversion costs to produce cell phones for November are added evenly throughout the process in the Assembly Department. The company uses the weighted-average method. For each of the following separate assumptions, calculate the equivalent units of production for conversion costs in the ending Work-in-Process Inventory for the Assembly Department: 1. 6,000 cell phones were 75% complete 2. 26,000 cell phones were 25% complete First, determine the formula for calculating equivalent units of production. Equivalent units of production Assumption 1. 6,000 cell phones were 75% complete. The equivalent units for conversion costs is Assumption 2. 26,000 cell phones were 25% complete The equivalent units for conversion costs is

Monga manufactures cell phones. The conversion costs to produce cell phones for November are added evenly throughout the process in the Assembly Department. The company uses the weighted-average method. For each of the following separate assumptions, calculate the equivalent units of production for conversion costs in the ending Work-in-Process Inventory for the Assembly Department: 1. 6,000 cell phones were 75% complete 2. 26,000 cell phones were 25% complete First, determine the formula for calculating equivalent units of production. Equivalent units of production Assumption 1. 6,000 cell phones were 75% complete. The equivalent units for conversion costs is Assumption 2. 26,000 cell phones were 25% complete The equivalent units for conversion costs is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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