Show transcribed image text Problem 6.31 Weighted Average Method, Physical Flow, Equivalent Units, Unit Cost Assignment, ABC Swasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes thrortuet processes: Cutting, Welding, and Painting. In September, the Cutting Department of the Tite 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 40,500 units, 20 percent complete with rough respect to direct labor and overhead. Costs in beginning inventory included direct materin S1,215,000; direct labor, $222,600; and applied overhead, $150,000. Costs added to production during the month were direct materials, $2,565,000; direct labor S3,471,150. Overhead was assigned using the following information: c. Actual Driver Usage 4,000 inspection hours 1,600 maintenance hours 2,000 receiving orders Activity Rate Inspection Maintenance $150 per inspection hour $750 per maintenance hour S300 per receiving order Receiving c A ibe end of the month, 121,500 units were transferred out to Welding, leaving 13,500 uni is nding work in process, or 25 percent complete. Roquired: I. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost under weighted average. 4. Calculate the cost of goods transferred to Welding at the end of the month. Calculate cost of ending inventory 5. Prepare the journal entry that transfers the goods from Cutting to Welding.