WIP. August 31, had 30.00 s Units con argust 31. had 30,000 kilograms, 70 percent complete. completed and transferred out totalled 500,000 kilograms. All inputs are added iformly, and costs added during the month were: Materials $5,610,000 Direct labour 3,877,500 Overhead applied 1,292,500 Required: Pranare a physical flow schedule and an equivalent unit schedule. Calculate the unit cost, rounded to two decimal places. 1 Determine the cost of EWIP and the cost of goods transferred out. 4 Prepare a cost reconciliation. Suppose that the materials added uniformly in blending are paraffin and pigment and that the manager of the company wants to know how much each of these materials costs per equivalent unit produced. The costs of the materials in BWIP are as follows: Paraffin Pigment $120,000 100,000 The costs of the materials added during the month are also given: Paraffin $3,060,000 Pigment 2,550,000 eren equivalent unit schedule with cost categories for each material. Calculate the cost per unit for each type of material. Check figures: 1. Total equivalent units = 521,000 2. Unit cost = $21.19 3. Cost of goods trans- ferred out= $10,595,000 5. Unit paraffin cost = $6.10 ORIFSTIYE 2004