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FIFO Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment Swasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding,
FIFO Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment
Swasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding, and Painting. In September, the Cutting Department of the Tulsa, Oklahoma, plant reported the following data:
In Cutting, all direct materials are added at the beginning of the process.
Beginning work in process consisted of units, percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, $; direct labor, $; and applied overhead, $
Costs added to production during the month were direct materials, $; direct labor, $ Overhead was assigned using the following information:
Activity Rate Actual Driver Usage
Inspection $ per inspection hour inspection hours
Maintenance $ per maintenance hour maintenance hours
Receiving $ per receiving order receiving orders
At the end of the month, units were transferred out to Welding, leaving units in ending work in process, or percent complete.
Assume that the FIFO method is used.
Required:
Question Content Area
Prepare a physical flow schedule.
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Swasey Fabrication, Inc.
Physical Flow Schedule
Units to account for: blank
Total units to account for fill in the blank bffbf
Units accounted for: blank
Select
Select
Total units accounted for fill in the blank bffbf
Feedback Area
Feedback
A physical flow schedule shows the units to account for and what happened to them.
Question Content Area
Calculate equivalent units of production for direct materials and conversion costs.
Equivalent Units
Direct Materials fill in the blank dccfefb
Conversion Costs fill in the blank dccfefb
Compute unit cost. Round unit costs & final answer to three decimal places.
$fill in the blank dccfefb
per unit
Calculate the cost of goods transferred to Welding at the end of the month. In your calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar.
$fill in the blank dccfefb
Calculate the cost of ending inventory. In your calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar.
$fill in the blank dccfefb
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