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n10 II. Process Costing Now suppose that Springville Company uses the FIFO method for inventory valuations Springville produces a product that passes through two departments: blending and cooking, manufacturing inputs are added uniformly. The following information pertains to the blending department for February 2. BWIP, February 1: 100,000 pounds, 40% complete with respect to conversion costs. The costs assigned to this work are as follows: Material $20,000 Labor 10,000 Overhead 30,000 b. EWIP, February 28: 50,000 pounds, 60% complete with respect to conversion costs. Units completed and transferred out: 370,000 pounds. The following costs were added during the month: Material $211,000 Labor 100.000 Overhead 270.000 Required: 1. Prepare a physical flow schedule. 2. Prepare a schedule of equivalent units. 3. Compute the cost per equivalent unit 4. Compute the cost of goods transferred out and the cost of EWIP