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FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The compsny manufactures a product that is procossed ia two departinentst Moldeng and Asiembly th the Moiging Department, direct materials are added at the beginning of the process; in the Asserrbily Department, add bonal odvect materiah are added an the end sf the proneis. In production activity and costs for February: 1. Using the EFO method, prepare the following for the Molding Departsem a. A physicat fow schedule b. An equivalent units calculation. c. Calculation of unit costs. Round your answer to the nearest cent. per unit d. Cost of ending work in precess and cost of goods transferred out. Cost of ending work in processit Cost of goods transferred out i . A cost reconcliation. rChaca ve Won c. Unit cost w Unit direct materipls cost + Unit corwervion costs out is simplined as it la the total unt cost multolied or the unitricompleted. costs ore recorded, and (c) unth are trensferred to the Assembly Department. rchea Ny woo 3. Repeat fuequirements 1 and 2 for vive Assembly Deparment. Fandokct t ereac Sy Whan b. An equivalent unts calculation subsequent computations. per unis d. Compute the following. For Interim computations, carry amounts out to four decimal pteces. hound vour flinal answer to the neareat doliaf: Cost of ending work in process: 1 Cost of goods transferred out: $ e. A cost reconcliation. When necessarv, round equivalent cost per unit to four decimal places, and round all other bmounts to 1 he beartat doliar. Note: Cost reconclation totais differ by $1 doe to reunding erroc. Feofens r Cleck My Wore are recorded, and (c) the units are transterred to finstied coods. (a) are recorded, and (c) the units are trenslerred to Finished Goods. Fonotece ronga My Work 1. Using the FIFO method, prepare the following for the Molding Department: a. A physical flow schedule Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 Required: FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The compsny manufactures a product that is procossed ia two departinentst Moldeng and Asiembly th the Moiging Department, direct materials are added at the beginning of the process; in the Asserrbily Department, add bonal odvect materiah are added an the end sf the proneis. In production activity and costs for February: 1. Using the EFO method, prepare the following for the Molding Departsem a. A physicat fow schedule b. An equivalent units calculation. c. Calculation of unit costs. Round your answer to the nearest cent. per unit d. Cost of ending work in precess and cost of goods transferred out. Cost of ending work in processit Cost of goods transferred out i . A cost reconcliation. rChaca ve Won c. Unit cost w Unit direct materipls cost + Unit corwervion costs out is simplined as it la the total unt cost multolied or the unitricompleted. costs ore recorded, and (c) unth are trensferred to the Assembly Department. rchea Ny woo 3. Repeat fuequirements 1 and 2 for vive Assembly Deparment. Fandokct t ereac Sy Whan b. An equivalent unts calculation subsequent computations. per unis d. Compute the following. For Interim computations, carry amounts out to four decimal pteces. hound vour flinal answer to the neareat doliaf: Cost of ending work in process: 1 Cost of goods transferred out: $ e. A cost reconcliation. When necessarv, round equivalent cost per unit to four decimal places, and round all other bmounts to 1 he beartat doliar. Note: Cost reconclation totais differ by $1 doe to reunding erroc. Feofens r Cleck My Wore are recorded, and (c) the units are transterred to finstied coods. (a) are recorded, and (c) the units are trenslerred to Finished Goods. Fonotece ronga My Work 1. Using the FIFO method, prepare the following for the Molding Department: a. A physical flow schedule Percentage of completion: Beginning inventory 40% 50% Ending inventory 80 50 Required