Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Inventory, Activity-Based Costing

Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates:

Driver Rate Actual Usage (by Plate Cutting) Direct labor cost 150% of direct labor $732,000 Inspection hours $40 per hour 7,450 hours Purchase orders $1,000 per order 800 orders Other data for the Plate Cutting Department are as follows:

Beginning work in process Units started 750,000 Direct materials cost $6,000,000 Units, ending work in process (100% materials; 64% conversion) 50,000 Required:

Question Content Area 1. Prepare a physical flow schedule. If an answer is zero, enter "0".

Lacy, Inc. Physical flow schedule Units to account for :

- Select -

- Select - Total units of accounting for Units accounted for

- Select -

- Select - Total units accounted for Question Content Area 2. Calculate equivalent units of production for:

Equivalent Units a. Direct Materials b. Conversion Costs

3. Calculate unit costs for the following.

a. Direct materials $ per unit b. Conversion costs $ per unit c. Total manufacturing $ per unit 4. Provide the following information:

a. The total cost of units transferred out $ b. The journal entry for transferring costs from Plate Cutting to Welding - Select -

- Select - c. The cost is assigned to units in ending inventory. $

COULD YOU PLEASE HELP AND Explain? I greatly appreciate it :)