Beginning inventories: Molding Assembly FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for February: Physical units 10,000 8,000 Costs: Transferred in - $45,200 Direct materials $22,000 Conversion costs $13,800 $16,800 Current production: Units started 25,000 ? Units transferred out Costs: 30,000 35,000 Transferred in ? Direct materials $56,250 $39,550 Conversion costs $103,500 $136,500 Percentage of completion: Beginning inventory Ending inventory 40% 50% 80 50 Required: 1. Using the FIFO method, prepare the following for the Molding Department: a. A physical flow schedule Muskoge Company Molding Department Physical Flow Schedule Units to account for: Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for 1000 b. An equivalent units calculation Direct Materials Conversion Costs Total Equivalent Units c. Calculation of unit costs. Round your answer to the nearest cent. per unit d. Cost of ending work in process and cost of goods transferred out. Cost of ending work in process: $ Cost of goods transferred out: $ e. A cost reconciliation. Costs to account for: Beginning work in process Costs incurred Total costs to account for Costs accounted for: Transferred out Ending work in process Total costs accounted for 2. Prepare journal entries that show the flow of manufacturing costs for the Molding Department. (a) Materials are added at the beginning of the process, (b) conversion costs are recorded, and (c) units are transferred to the Assembly Department. (b) (c) 3. Repeat Requirements 1 and 2 for the Assembly Department. a. A physical flow schedule Muskoge Company Assembly Department Physical Flow Schedule Units to account for