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Hello, may I please get guidance on this. I am really struggling to understand, thank...

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Accounting

imageHello, may I please get guidance on this. I am really struggling to understand, thank you.
Cost Accounting Summer 2021 Chapter 17 Extra Credit Problems (7.5 points each): Process costing, weighted average and FIFO methods with transferred-in cost. Monarch Company has two departments, an assembly department and a finishing department. The following information relates to the finishing department: Work-in-process, June 1 15 units Transferred-in: 100% complete $125 Direct materials: 100% complete 85 Conversion: 30% complete 72 Balance in work-in-process, June 1 282 Units transferred in from assembly department during June 75 units Units completed during June and transferred out to finished goods inventory 80 units Work-in-process, June 30 10 units Transferred-in: 100% complete Direct materials: 100% complete Conversion: 60% complete Costs incurred during June: Transferred-in $815 Direct materials 725 Conversion 878 Total current costs $2.418 Required: 1. Prepare a production cost worksheet for June using the weighted-average method. 2. Prepare a production cost worksheet for June using the FIFO method

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