On 1 April 2022, Fridges Ltd had 1,600 units of work-in-process in the Assembly Department, the final state of their production process, which was 80% complete with respect to materials and 40% complete for conversion.

The costs attached to these 1,600 units were as follows:

• Transferred-in from the Machining Department: $560,100
• Material costs added in the Assembly Department: $57,600
• Conversion costs added in the Assembly Department: $70,405

During April, the following occurred:

• Transferred-in from the Machining Department: 8,800 units at a cost of $3,298,300
• Material costs added in the Assembly Department: $417,120
• Conversion costs added in the Assembly Department: $905,570

On 30 April 2021, the Assembly Department has 1,700 units of work-in-process, which are 70% complete with respect to materials and 35% complete for conversion.

Required:

Complete the fourth and fifth step in preparing a process cost report for the Assembly

Use the answer template below

(a) Step 4: Valuation of Inventories for the Assembly Department in April 2022

Inventories	Unit Cost	Equivalent Units	Total Cost
Cost of goods transferred out	$524.00	8,700
Ending work-in-process
· Transferred-in	$371.00	1,700	$ 630,700
· Materials	$ 48.00
· Conversion	$105.00
· TOTAL

NOTE: Round your answer to the nearest dollar.

(b) Step 5: Cost Flow Schedule for the Assembly Department in April 2022

Costs to account for		Costs accounted for
Beginning work-in-process		Completed and transferred out
Costs transferred-in	$3,298,300	Ending work-in-process
Costs added
Total costs to account for		Total costs accounted for