Equivalent Units, Unit Cost, Weighted Average Tapyt Inc. manufactures throw rugs. The throw rug department weaves cloth and yarn into throw rugs of various sizes. Tapyt uses the weighted average method. Materials are added uniformly throughout the weaving process. In August, Tapyt switched from FIFO to the weighted average method. The following data are for the throw rug department for August: Production: Units in process, August 1, 60% complete Units completed and transferred out Units in process, August 31, 60% complete Costs: WIP, August 1 Current costs Total Required: 1. Prepare a physical flow analysis for the throw-rug department for August. Units to account for: Tapyt Inc. Physical Flow Analysis For the Month of August Units in beginning work in process (60% complete) Units started during the period Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units in ending work in process (60% complete) Total units accounted for 60,000 180,000 60,000 $216,000 907,200 $1,123,200 2. Calculate equivalent units of production for the throw-rug department for August equivalent units 3. Calculate the unit cost for the throw-rug department for August. Round your answer to the nearest cent. per unit 4. Show that the cost per unit calculated in Requirement 3 is a weighted average of the FIFO cost per equivalent unit in GWIP and the FIFO cost per equivalent unit for August. If required, round your answers to two decimal places. Hint: The weights are in proportion to the number of units from each source. Equivalent units in beginning work in process Prior period unit cost FIFO equivalent units for materials FIFO unit cost The weighted average unit cost 00000