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: Outting and Sewing. During April, Dama's controller prepared the following equivalent units schadule for the Cutting Department: Conversion Costs Direct Materials 40.000 40,000 Units started and completed Units, beginning work in process: 16,000 x 0% 16,000 x 5056 ..... Units, ending work in process 8.000 20,000 x 100% 20,000 20,000 x 25% 5.000 Equivalent units of output 60,000 53,000 Costs in beginning work in process were direct materials, $20,000, conversion costs, $70,000. Manufacturing costs incurred during April ware direct materials, $180,000, conversion costs, $339,200. Required: 1. Prepare a physical flow schedule for April. Dama Company Physical Flow Schedule Units to account for Units, beginning work in process Units started Total units to account for Units accounted for Started and completed Units started Units, ending work in process Total units accounted for 2. Compute the cost per equivalent unit for April. If required, round your answer to the nearest cent. $ 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 Cost of goods transferred out 4. Prepare the journal entry that transfers the costs from Cutting to Sewing