problem (100 points): Production Report under Process Costing: Springville Company produces a product that passes through two departments: Blending and Cooking. In the Blending Department, all materials are added at the beginning of the process. All other manufacturing inputs are added uniformly. The following information pertains to the Blending Department for February, 2014: a) BWIP, February 1: 100,000 pounds, 40% complete with respect to conversion costs with these related costs: Materials: $20,000; Labor: $10,000; Overhead: $30,000 h 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: Materials: $211,000 Labor: $100,000 Overhead: $270,000 Required Questions: 1) Under the weighted Average Method (50 points): 1.1. 1.2. 1.3. 1.4. Prepare a physical flow schedule (10 points); Compute the equivalent units (10 points) Compute the unit costs (10 points) Present the valuation of inventories (10 points) Prepare cost reconciliation (10 points). 1.5. 2. Under the FIFO Method (50 points): 2.1. Prepare a physical flow schedule (10 points); 2.2. Compute the equivalent units (10 points) Compute the unit costs with two decimals (10 points) 2.4. Present the valorization of inventories (10 points) 2.5. Prepare cost reconciliation (10 points)