Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Tnventary, Activity-Based Costing Lacy, 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: Rate Driver Direct labor cost Actual Usage (by Plate Cutting) $732,000 7,450 hours Inspection hours 140% of direct labor $40 per hour $1,000 per order Purchase orders 800 orders Other data for the Plate Cutting Department are as follows: Beginning work in process Units started 750,000 Direct materials cost $ $5,250,000 Units, ending work in process (100% materials: 64% conversion) 50,000 Required: 1. Prepare a physical flow schedule. If an answer is zero, enter". Lacy, Inc. Physical flow schedule Units to account for: Total units to account for Units accounted for: Total units accounted for 2. Calculate equivalent units of production for: Equivalent Units a. Direct Materials b. Conversion Costs 3. Calculate unit costs for the following. Round your answers to the nearest cent. a. Direct materials per unit b. Conversion costs per unit c. Total manufacturing s per unit 4. Provide the following information: a. The total cost of units transferred out b. The journal entry for transferring costs from Plate Cutting to Welding C. The cost assigned to units in ending inventory $