Required information [The following information applies to the questions displayed below.) Timing Technology, Inc. manufactures timing devices. During 20x1,2,400,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1, there were 410,000 units in work in process. These units were 50 percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 936,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January 1, 20x1. A review of the inventory cost records disclosed the following information: Units 400,000 Costs Materials Labor $ 320,000 $324,400 Work in process, January 1, 20x1 (838 complete as to conversion) Units started in production Direct-material costs Direct-labor costs 2,410,000 $ 7,259,000 $6,057,850 Required: 1. Complete the following schedule as of December 31, 20x1, to compute the physical flow of units. Physical Units Total units to account for Total units accounted for 2. Complete the following schedule as of December 31, 20x1, to compute the equivalent units of production using the weighted. average method. 7:10 Equivalent Units Materials Conversion Physical Units Total units accounted for Total equivalent units 3. Complete the following schedule as of December 31, 20x1, to compute the costs per equivalent unit for material and conversion (Round "Cost per Equivalent Unit" to 2 decimal places.) Materials Conversion OS OS Total costs to account for Equivalent units Costs per equivalent unit 4-5. Complete the following schedule as of December 31, 20x1, to compute the cost of finished goods inventory. Complete this question by entering your answers in the tabs below. 1:46:39 Required 4A Required 48 Complete the following schedule as of December 31, 20x1, to compute the cost of work-in-process inventory. (Round "Cost per equivalent unit to 2 decimal places.) Number of Equivalent Units Cost per Equivalent Unit Total Cost Materials Conversion Total cost of 12/31x1 work in process re Required 48 > Required 4A Required 4B Complete the following schedule as of December 31, 20x1, to compute the cost of finished-goods inventory. (Round "Cost per equivalent unit" to 2 decimal places.) Number of units completed Cost per equivalent unit Cost of goods completed and transferred out Finished goods inventory (units) Cost of finished goods inventory