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Accessory World makes floor mats for the automobile industry. Finished sets of mats must pass...

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Accounting

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Accessory World makes floor mats for the automobile industry. Finished sets of mats must pass through two departments: Cutting and Coating. Large sheets of synthetic material are cut to size in the Cutting Department and then transferred to the Coating Department, where each set is sprayed with a chemical coating for improved durability. The following information pertains to May activity in the Cutting Department. a. Prepare a schedule showing: (1) the number of mat sets transferred from the Cutting Department to the Coating Department in May, and (2) the number of mat sets started and completed by the Cutting Department in May. b. Compute the equivalent units of input resources for the Cutting Department in May. c. Compute the cost per equivalent unit of input resource for the Cutting Department in May. d. Prepare the summary journal entry required to transfer the cost of completed mat sets from the Cutting Department to the Coating Department in May. e. Compute the total cost assigned to the Cutting Department's ending inventory on May 31

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