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please answer the followinf question. Process Costing (Cornerstone Pages): The mixing department of Seville Company uses two processes, Blending and Cooking. The following information pertains

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Process Costing (Cornerstone Pages): The mixing department of Seville Company uses two processes, Blending and Cooking. The following information pertains to the Blending Department for February. Units in Beginning Work in Process (40% complete) Units Completed and Transferred Out Units in Ending Work in Process (60% complete) 100,000 370,000 50,000 Production Costs are as follows: Cost for Beginning WIP: Materials Conversion Total: $20,000 $40,000 $60,000 Current Costs: Materials Conversion Total: $200,000 $350,000 $550,000 * Note: with respect to material, all material costs are added at the beginning of the process Required: 1] Prepare a Physical Flow Schedule 2] Prepare a Schedule of Equivalent Units 3] Compute the Cost per Equivalent Units 4] Compute the Cost of Goods Transferred Out and the Cost of EWIP 5] Prepare a Cost Reconciliation ****Note: Use the templates below to assist with your answers) *** Physical Flow Schedule Units to Account For: Units in BWIP Units Started Total Units to Account For Units Accounted For Started and completed Units from BWIP Total Units Completed and Transferred Out Units in EWIP Total Units Accounted For Schedule of Equivalent Units Materials Units Completed JUnits in EWIP Complete I Materials (50.000 x 100 ) Konversion (50,000 x 60) Total Equivalent Units of Output Cost Per Equivalent Units: Materials Unit Cost Conversion Cost Total Unit Cost Cost of Goods Transferred Out & Cost of EWIP Cost of Goods Transferred Out Cost of EWIP Bi Cost Reconciliation Costs to Account For Costs from BWIP Costs incurred During the Period Total Costs to Account For Costs Accounted For: Costs of Goods Transferred Out Costs of EWIP Total Costs Accounted For

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