A company which uses the First-In, First-Out (FIFO) costing method, produces jeans that passes through the cutting, stitching, and finishing departments. In the stitching department, all materials are added at the beginning of the process and conversion activities are added uniformly. The following information relates to the stitching department for the month of May: a. Beginning Work-In-Process, 1 May: 400,000 units (40% complete with respect to conversion costs). The costs assigned to this work are as follows: . Direct Materials $8,000,000 . Conversion costs $6,000,000 b. Ending Work-In-Process, 31 May: 200,000 units (30% complete with respect to conversion costs). c. Units completed and transferred out: 2,000,000 units. The following costs were added during May: Direct Materials $14.000,000 Conversion Costs $12,000,000 Required: 1. Prepare a physical flow schedule. 2. Prepare a schedule of equivalent units