FIFO Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment manufactures frames for bicycles. Each frame passes through three processes: Cutting. Welding, and Painting. In September Swasey Fabrication, Inc, of the Tulsa, Oklahoma, plant reported the following data: a. In Cutting, all direct materials are added at the beginning of the process. b. Beginning work in process consisted of 41,000 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, $1,215,000; direct labor, $222,000; and applied overhead, $150,000. during the month were direct materials, $2,575,000; direct labor, $3,471,050. Overhead was assigned using the following i Actual Driver Usage 4,000 inspection hours 1,600 maintenance hours 2,000 receiving orders Activity Rate $150 per inspection hour $750 per maintenance hour $300 per receiving order Maintenance Receiving d. At the end of the month, 121,000 units were transferred out to Welding, leaving 13,000 units in ending work in process, or 25 percent complete. Assume that the FIFO method is used. Required 1. Prepare a physical flow schedule. Swasey Fabrication, Inc. Physical Flow Schedule Units to account for: work in process Units Units started (transferred in) Total units to account for 41,000 Units accounted for: Units completed and transferred out Units, ending work in process Y