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: Costs in beginning work in process were direct materials, $20,000; canversion costs, $70,000. Manufacturing costs incurred during April were direct materials, $260,000; conversion costs, $384,000 Required: 1. Prepare a physical flow schedule for April. 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. Ched My Work 4. Prepare the journal entry that transfers the costs from Cutting to Sewing