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FiFo Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment. Swasey Fabrication, Inc., manufactures frames for bicycies, Each frame passes through three processes: Cutting, Welding. and Painting. In Septamber, the Cutting Department of the Tulsa, Oklahoma, plant reported the following data: a. In Cutting, all direct materials are added at the beginning of the process. b. Beginning work in process consisted of 40,000 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, 51,215,000; direct labot, $222,000; and applied overhead, $150,000. c. Costs added to production during the month were direct materials, $2,565,000; direct labor, $3,471,250.0verhead was assigned using the following information: a. At the end of the month, 122,000 units were transferred out to Welding, leaving 14,000 units in ending work in process, or 25 percent cornplete. Assume that the fifo method is used. Required: 1. Prepare a physical fow schedule. 1. Prepare a physical flow schedule. Festerea Check Mrimos 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round unit costs \& final answer to three decimal places. per unit. 4. Calculate the cost of goods transferred to Welding at the end of the month. In your calculations, round unit costs to three decimal places. Round your final 2. Caiculate equivalent units of production for direct materials and conversion costs. 3. Comfiute unit cost. Round unit costs \& final answer to three decimal places. per unit 4. Calculate the cost of goods transferred to Welding at the end of the month. In your calculations, round unit costs to three decimal places. Round your fina answer to the nearest dollar. Calculate the cost of ending inventory. In your calculations, round unit costs to three decimal places, Round your final answer to the nearest dollar

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