McKay, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates:

Driver Rate Actual Usage

$($by Plate Cutting$)$

Direct labor cost $170\%$ of direct labor $$87,840$

Inspection hours $$40$ per hour $4,002$ hours

Number of moves $$100$ per move $1,680$ moves

During the first quarter, the Plate Cutting Department used $26,900$ hours $($direct$,$ indirect, and machine hours$)$ to produce the quarter's output. Other quarterly data for the Plate Cutting Department are as follows:

Beginning work in process, January $1$

Units started $90,000$

Direct materials cost $$630,000$

Units, ending work in process $(100\%$

materials; $64\%$ conversion$),$ March $316,000$

Required:

Question Content Area

$1.$ Prepare a physical flow schedule. If an answer is zero, enter $"0".$

blank

McKay, Inc.

Physical flow schedule

Units to account for: blank

$-$ Select $-$

$-$ Select $-$

Total units to account for fill in the blank $9$a$375$ef$6$bfdafdd$\_5$

Units accounted for: blank

$-$ Select $-$

$-$ Select $-$

Total units accounted for fill in the blank $9$a$375$ef$6$bfdafdd$\_10$

Question Content Area

$2.$ Calculate equivalent units of production for:

Equivalent Units

a$.$ Direct Materials fill in the blank c$826$c$1$fe$4070073\_1$

b$.$ Conversion Costs fill in the blank c$826$c$1$fe$4070073\_2$

$3.$ Calculate unit costs for the following. Round your answers to the nearest cent.

a$.$ Direct materials $fill in the blank c$826$c$1$fe$4070073\_3$

per unit

b$.$ Conversion costs fill in the blank c$826$c$1$fe$4070073\_4$

per unit

c$.$ Total manufacturing $fill in the blank c$826$c$1$fe$4070073\_5$

per unit

$4.$ Provide the following information:

a$.$ The total cost of units transferred out

$fill in the blank c$826$c$1$fe$4070073\_6$

Question Content Area

b$.$ The journal entry for transferring costs from Plate Cutting to Welding

blank

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c$.$ The cost assigned to units in ending inventory. Round your answers to the nearest cent.

$fill in the blank $64577$a$028$fbe$074\_1$

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$5.$ Suppose the plant manager asked the following questions:

a$.$ What is the actual cycle time for the conversion cost output for the plate subassembly $($round to four decimal places$)?$

$fill in the blank cce$33703507$c$058\_1$

hours per unit

b$.$ What is the conversion cost rate for the first quarter, using total conversion costs and total time $($round to the nearest cent$)?$

$fill in the blank cce$33703507$c$058\_2$

per hour

c$.$ What is the conversion cost per unit, using duration$-$based costing $($round to the nearest cent$)?$

$fill in the blank cce$33703507$c$058\_3$

d$.$ According to production engineering, if efficiency were increased to an ideal level, then the cycle time should be $0\mathrm{.}20$ hours. If this were to occur, what would the cost per plate be$?($round to the nearest cent$)?$

$fill in the blank cce$33703507$c$058\_4$

Identify the data analytic types $($descriptive$,$ diagnostic, predictive, or prescriptive$)$ that apply to parts a$.$ through d$.($see Exhibit $2\mathrm{.}5$ and Exhibit $2\mathrm{.}6$ for a review of data analytic metrics$).$ Note: More than one data analytic type might apply.

The first three calculations are

in nature. The last calculation has elements of

$.$