QUESTION 1(TCO F) Bingham Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below.Work in process, beginning:Units in beginning work-in-process inventory400Materials costs$6,900Conversion costs$2,500Percentage complete for materials80%Percentage complete for conversion15%Units started into production during the month6,000Units transferred to the next department during the month5,000Materials costs added during the month$112,500Conversion costs added during the month$210,300Ending work in process:Units in ending work-in-process inventory1,200Percentage complete for materials60%Percentage complete for conversion30%Required: Calculate the equivalent units for materials (using the weighted-average method) for the month in the first processing department. (Points : 25)QUESTION 2(TCO F) Payment Inc. is preparing its cash budget for February. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $136,000 and budgeted cash disbursements total $128,000. The desired ending cash balance is $50,000. The company can borrow up to $110,000 at any time from a local bank with interest not due until the following month. Required: Prepare the company’s cash budget for February in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance. (Points : 25) QUESTION 3Bella Lugosi Holdings, Inc. (BLH), has collected the following operating information below for its current month’s activity. Using this information, prepare a flexible budget analysis to determine how well BLH performed in terms of cost control.Actual Costs IncurredStatic BudgetActivity level (in units)5,2505,178Variable costs: Indirect materials$24,182$23,476 Utilities$22,356$22,674Fixed costs: Administration$63,450$65,500 Rent$65,317$63,904 Ending work in process:30%(TCO F) Payment Inc. is preparing its cash budget for February. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $136,000 and budgeted cash disbursements total $128,000. The desired ending cash balance is $50,000. The company can borrow up to $110,000 at any time from a local bank with interest not due until the following month. Required: Prepare the company’s cash budget for February in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance. (Points : 25) QUESTION 3Bella Lugosi Holdings, Inc. (BLH), has collected the following operating information below for its current month’s activity. Using this information, prepare a flexible budget analysis to determine how well BLH performed in terms of cost control.$63,904