Weighted Average Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment, ABC

a$.$ In Cutting, all direct materials are added at the beginning of the process.

c$.$ Costs added to production during the month were direct materials, $$2,445,400$; direct labor, $$3,477,500.$ Overhead was assigned using the following information:

d$.$ At the end of the month, $121,600$ units were transferred out to Welding, leaving $13,600$ units in ending work in process, or $25$ percent complete.

Required:

Prepare a physical flow schedule.

Swasey Fabrication, Inc.

Physical Flow Schedule

Units to account for:

$?$

$?$

Total units to account for

Units accounted for:

$?$

Total units accounted for

Calculate equivalent units of production for direct materials and conversion costs.

Equivalent Units

Direct Materials

Conversion Costs

Compute unit cost under weighted average.

Unit direct materials cost $

Unit conversion costs

Total unit cost

Calculate the cost of goods transferred to Welding at the end of the month. Calculate the cost of ending inventory.

Cost of goods transferred out

$$

Ending WIP

$

Prepare the journal entry that transfers the goods from Cutting to Welding.