Required:

1. Using the FIFO LIFO method, prepare the following for the Molding Department:

a. A physical flow schedule

b. An equivalent units calculation

c. Calculation of unit costs. Round to four decimal places.

d. Cost of ending work in process and cost of goods transferred out

e. A cost reconciliation

Muskoge Com processed in two departments: Molding a rials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the pr uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and costs for February pany uses a process-costing system. The company manufactures a product that is nd Assembly. In the Molding Department, direct mate- ocess. In both departments, conversion costs are incurred Assembly 8,000 s 45,200 S 16,800 Molding Beginning inventories: Physical units Costs: 10,000 Transferred in Direct materials Conversion costs S 22,000 S 13,800 Current production: Units started Units transferred out Costs: 25,000 30,000 35,000 Transferred in Direct materials Conversion costs s 56,250 $103,500 S 39,550 $136,500 Percentage of completion: Beginning inventory Ending inventory 50% 50 80