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: Conversion Costs Direct Materials Units started and completed 40,000 40,000 Units, beginning work in process: 12,000 x 0% 6,000 12,000 x 50% Units, ending work in process: 20,000 x 100% 20,000 20,000 x 25% 5,000 Equivalent units of output 60,000 51,000 Costs in beginning work in process were direct materials, $20,000; conversion costs, $80,000. Manufacturing costs incurred during April were direct materials, $180,000; conversion costs, $326,400. 1. Prepare a physical flow schedule for April. Dama Company Physical Flow Schedule Units to account for: Total units to account for Units accounted for: 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