FIFO Method, Valuation of Goods Transferred Out 6-7 and Ending Work in Process L04 Manzer Company uses the FIFO method to account for the costs of production. For crushing, the first processing department, the following equivalent units schedule has been prepared for November: Direct Conversion Materials Costs Units started and completed 22,000 22,000 Units, beginning work in process: 10,000 0% 10,000 40% 4,000 Units, ending work in process: 6,000 x 100% 6,000 6,000 75% 4,500 Equivalent units of output 28,000 30,500 The cost per equivalent unit for the period was as follows: Direct materials Conversion costs $3.00 5.00 Total $8.00 The cost of beginning work in process was direct materials, $30,000; conversion costs, $25,000. Required: 1. Determine the cost of ending work in process and the cost of goods transferred out. 2. Prepare a physical flow schedule