FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Dama Company produces women's blouses and uses the FIFO method to account for its manufacturing costs The product Dama makes passes through two processes Cutting and Sewing During April, Dama's controller prepared the following equivalent units schedule for the Cutting Department Direct Materials Conversion Costs Units started and completed 45,000 45,000 Units, beginning work in process 18,000 0 18,000 50 9,000 Units, ending work in process 20,000 100 20,000 20,000 25 5,000 Equivalent units of output 65,000 59,000 Costs in beginning work in process were direct materials, $20,000 conversion costs, $80,000 Manufacturing costs incurred during April were direct materials, $260,000 conversion costs, $377,600 Required Question Content Area 1 Prepare a physical flow schedule for April Units to account for blank Started and completedUnits, beginning work in processUnits, ending work in process Select Started and completedUnits, ending work in processUnits started Select Total units to account for fill in the blank 318fb502302f01c 5 Units accounted for blank Started and completedUnits started Select Units, beginning work in processUnits started Select Units, ending work in processUnits started Select Total units accounted for fill in the blank 318fb502302f01c 12 Question Content Area 2 Compute the cost per equivalent unit for April If required, round your answer to the nearest cent $fill in the blank bae3850f4f90002 1 per equivalent unit 3 Determine the cost of ending work in process and the cost of goods transferred out Cost of ending work in process $fill in the blank bae3850f4f90002 2 Cost of goods transferred out $fill in the blank bae3850f4f90002 3 Question Content Area 4 Prepare the journal entry that transfers the costs from Cutting to Sewing blank CashFinished GoodsMaterialsOverheadWork in Process CuttingWork in Process Sewing Select CashFinished GoodsMaterialsOverheadWork in Process CuttingWork in Process Sewing Select

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FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Dama Company produces women's blouses and uses the FIFO method to

FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process

Dama Company produces women's blouses and uses the FIFO method to account for its manufacturing costs. The product Dama makes passes through two processes: Cutting and Sewing. During April, Dama's controller prepared the following equivalent units schedule for the Cutting Department:

	Direct Materials		Conversion Costs
Units started and completed		45,000		45,000
Units, beginning work in process:
18,000 0%
18,000 50%				9,000
Units, ending work in process:
20,000 100%		20,000
20,000 25%				5,000
Equivalent units of output		65,000		59,000

Costs in beginning work in process were direct materials, $20,000; conversion costs, $80,000. Manufacturing costs incurred during April were direct materials, $260,000; conversion costs, $377,600.

Required:

Question Content Area

1. Prepare a physical flow schedule for April.

Units to account for:	blank
Started and completedUnits, beginning work in processUnits, ending work in process	- Select -
Started and completedUnits, ending work in processUnits started	- Select -
Total units to account for	fill in the blank 318fb502302f01c_5
Units accounted for:	blank
Started and completedUnits started	- Select -
Units, beginning work in processUnits started	- Select -
Units, ending work in processUnits started	- Select -
Total units accounted for	fill in the blank 318fb502302f01c_12

Question Content Area

2. Compute the cost per equivalent unit for April. If required, round your answer to the nearest cent. $fill in the blank bae3850f4f90002_1 per equivalent unit

3. Determine the cost of ending work in process and the cost of goods transferred out.

Cost of ending work in process	$fill in the blank bae3850f4f90002_2
Cost of goods transferred out	$fill in the blank bae3850f4f90002_3

Question Content Area

4. Prepare the journal entry that transfers the costs from Cutting to Sewing.

blank	CashFinished GoodsMaterialsOverheadWork in Process-CuttingWork in Process-Sewing	- Select -
	CashFinished GoodsMaterialsOverheadWork in Process-CuttingWork in Process-Sewing		- Select -