Give only solution of question 4 Do not give answer in image FIFO Method, Physical Flow, Equivalent Units, Unit Costs, Cost AssignmentSwasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding, and Painting. In September, 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 41,000 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, $1,215,000; direct labor, $223,000; and applied overhead, $150,000.c. Costs added to production during the month were direct materials, $2,575,000; direct labor, $3,471,250. Overhead was assigned using the following information:ActivityRateActual Driver Usage$150 per inspection hour4,000 inspection hoursInspectionMaintenance$750 per maintenance hour1,600 maintenance hoursReceiving$300 per receiving order2,000 receiving ordersd. At the end of the month, 121,000 units were transferred out to Welding, leaving 13,000 units in ending work in process, or 25 percent complete.Assume that the FIFO method is used.Required:1. Prepare a physical flow schedule.Swasey Fabrication, Inc.Physical Flow ScheduleUnits to account for:Units, beginning work in processUnits started (transferred in)Total units to account forUnits accounted for:✓Units completed and transferred outUnits, ending work in processTotal units accounted for✓✓41,00093,000134,000121,00013,000134,0002. Calculate equivalent units of production for direct materials and conversion costs.Equivalent Units 1. Prepare a physical flow schedule.Swasey Fabrication, Inc.Physical Flow ScheduleUnits to account for:Units, beginning work in processUnits started (transferred in)Total units to account forUnits accounted for:✓Units completed and transferred outUnits, ending work in processTotal units accounted forDirect Materials✓✓41,00093,000134,000 ✓121,00013,000134,000 ✓2. Calculate equivalent units of production for direct materials and conversion costs.Equivalent Units93,000 ✓Conversion Costs116,050 ✔3. Compute unit cost. Round unit costs & final answer to three decimal places.$78.28 ✔ per unit4. 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 answer to the nearest dollar.8,949,091 XCalculate the cost of ending inventory. In your calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar.X

Equivalent units under the FIFO method of process costing are the number of finished units that…

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 answer to the nearest dollar. 8,949,091 X Calculate the cost of ending inventory. In your calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar. X