Molding Assembly Beginning inventories: Physical units 10,000 8,000 Costs: Transferred in $45,400 Direct materials $22,000 Conversion costs $13,800 $16,700 Current production: Units started 25,000 ? Units transferred out 30,000 35,000 Costs: Transferred in ? Direct materials $56,250 $39,550 Conversion costs $103,500 $136,500 Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 1. Using the FIFO method, prepare the following for the Molding Department: a. A physical flow schedule Muskoge Company Molding Department Physical Flow Schedule Units to account for: Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for b. An equivalent units calculation Total Equivalent Units Direct Materials Conversion Costs 2. Prepare journal entries that show the flow of manufacturing costs for the Molding Department. (a) Materials are added at the beginning of the process, (b) conversion costs are recorded, and (c) units are transferred to the Assembly Department. (a) (b) (c) 3. Repeat Requirements 1 and 2 for the Assembly Department. a. A physical flow schedule Muskoge Company Assembly Department Physical Flow Schedule Units to account for: 10 Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for b. An equivalent units calculation Total Equivalent Units Direct Materials Conversion Costs Transferred In c. Calculation of unit costs. If required, round your intermediate computations and final answer to four decimal places and use the rounded answer in subsequent computations. per unit d. Compute the following. For interim computations, carry amounts out to four decimal places. Round your final answers to the nearest dollar. Cost of ending work in process: Cost of goods transferred out: $ e. A cost reconciliation. When necessary, round equivalent cost per unit to four decimal places, and round all other amounts to the nearest dollar. Costs to account for: Beginning work in process Costs incurred Total costs to account for Costs accounted for: Transferred out Ending work in process Total costs accounted for Note: Cost reconciliation totals differ by $1 due to rounding error. Prepare journal entries that show the flow of manufacturing costs for the Assembly Department. (a) Materials are added at the end of the process, (b) conversion costs are recorded, and (c) the units are transferred to Finished Goods. (a) (b) (C)