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

Required:

Prepare a physical flow schedule for April.

Dama Company

Physical Flow Schedule

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Compute the cost per equivalent unit for April. If required, round your answer to the nearest cent.

$$ per equivalent unit

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

$x$

$??$

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