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:

Ulldl Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: Transferred in - $45,300 $22,000 $13,800 $16,700 25,000 ? 30,000 35,000 Direct materials Conversion costs Current production: Units started Units transferred out Costs: Transferred in Direct materials Conversion costs Percentage of completion: Beginning inventory ? $56,250 $40,250 $106,500 $136,500 40% 50% Ending inventory 80 50 Required: a. A physical flow schedule Muskoge Company Molding Department Physical Flow Schedule Units to account for: Units, beginning work in process Units started in February (transferred in) Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units, ending work in process Total units accounted for b. An equivalent units calculation Total Equivalent Units Direct Materials Conversion Costs 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: s