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2. Calculate equivalent units of production for: 3. Calculate unit costs for the following. Round your answers to the nearest cent. 4. Provide the following information: a. The total cost of units transferred out $ Feedback Check My Work 2. The equivalent units schedule measures the output of the period. A fully completed unit is counted as a unit of output. Output for a unit in ending work in process is counted by its degree of completion. b. The journal entry for transferring costs from Plate Cutting to Welding Feedback Check My Work 4 b. Unit cost = Costs of the period Output of the period c. The cost assigned to units in ending inventory. Round your answers to the nearest cent. Feedback Check My Work 4 c. The cost of goods (services) transferred out is the unit cost multiplied by the units completed. The cost of EWIP is the unit cost multiplied by the equivalent units found in EWIP. The partially completed units and all their associated costs are transferred to the next process (department) by debiting the WIP account of the process (department) receiving the unit and crediting the WIP account of the transferring process (department). 5. Suppose the plant manager asked the following questions: a. What is the actual cycle time for the conversion cost output for the plate subassembly (round to four decimal places)? $ hours per unit b. What is the conversion cost rate for the first quarter, using total conversion costs and total time (round to the nearest cent)? $ per hour c. What is the conversion cost per unit, using duration-based costing (round to the nearest cent)? $ d. According to production engineering, if efficiency were increased to an ideal level, then the cycle time should be 0.20 hours. If this were to occur, what would the cost per plate be? (round to the nearest cent)? $ Identify the data analytic types (descriptive, diagnostic, predictive, or prescriptive) that apply to parts a. through d. (see Exhibit 2.5 and Exhibit 2.6 for a review of data analytic metrics). Note: More than one data analytic type might apply. The first three calculations are in nature. The last calculation has elements of Feedback V Check My Work 5. Cycle time is calculated as time divided by output. Conversion cost rate is calculated as conversion costs divided by total hours. Unit conversion cost is calculated by multiplying the cycle time by the conversion cost rate. Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Inventory, Activity-Based Costing, DBC McKay, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates: During the first quarter, the Plate Cutting Department used 26,500 hours (direct, indirect, and machine hours) to produce the quarter's output. Dther quarterly data for the Plate Cutting Department are as follows: 1. Prepare a physical flow schedule. If an answer is zero, enter " 0 ". Feedback Check My Work 1. A physical flow schedule shows the units to account for and what happened to them