I need number 4 for this answered only please: Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Inventory, Activity-Based Costing Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates: Driver Rate Actual Usage (by Plate Cutting) Direct labor cost 150% of direct labor $732,000 Inspection hours $40 per hour 7,450 hours Purchase orders $1,000 per order 800 orders Other data for the Plate Cutting Department are as follows: Beginning work in process — Units started 750,000 Direct materials cost $6,000,000 Units, ending work in process (100% materials; 64% conversion) 50,000 Required: 1. Prepare a physical flow schedule. If an answer is zero, enter "0". Lacy, Inc. Physical flow schedule Units to account for: fill in the blank 37e8b4041029005_2 fill in the blank 37e8b4041029005_4 Total units to account for fill in the blank 37e8b4041029005_5 Units accounted for: fill in the blank 37e8b4041029005_7 fill in the blank 37e8b4041029005_9 Total units accounted for fill in the blank 37e8b4041029005_10 2. Calculate equivalent units of production for: Equivalent Units a. Direct Materials fill in the blank 737b72014fae00f_1 b. Conversion Costs fill in the blank 737b72014fae00f_2 3. Calculate unit costs for the following. a. Direct materials $fill in the blank 737b72014fae00f_3 per unit b. Conversion costs fill in the blank 737b72014fae00f_4 per unit c. Total manufacturing $fill in the blank 737b72014fae00f_5 per unit 4. Provide the following information: a. The total cost of units transferred out $fill in the blank 737b72014fae00f_6 b. The journal entry for transferring costs from Plate Cutting to Welding fill in the blank 9da370fabf8bfe2_2 fill in the blank 9da370fabf8bfe2_4 c. The cost assigned to units in ending inventory. $fill in the blank a54a7cfa1051fa4_1

I need number 4 for this answered only please: Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Inventory, Activity-Based Costing Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates: Driver Rate Actual Usage (by Plate Cutting) Direct labor cost 150% of direct labor $732,000 Inspection hours $40 per hour 7,450 hours Purchase orders $1,000 per order 800 orders Other data for the Plate Cutting Department are as follows: Beginning work in process — Units started 750,000 Direct materials cost $6,000,000 Units, ending work in process (100% materials; 64% conversion) 50,000 Required: 1. Prepare a physical flow schedule. If an answer is zero, enter "0". Lacy, Inc. Physical flow schedule Units to account for: fill in the blank 37e8b4041029005_2 fill in the blank 37e8b4041029005_4 Total units to account for fill in the blank 37e8b4041029005_5 Units accounted for: fill in the blank 37e8b4041029005_7 fill in the blank 37e8b4041029005_9 Total units accounted for fill in the blank 37e8b4041029005_10 2. Calculate equivalent units of production for: Equivalent Units a. Direct Materials fill in the blank 737b72014fae00f_1 b. Conversion Costs fill in the blank 737b72014fae00f_2 3. Calculate unit costs for the following. a. Direct materials $fill in the blank 737b72014fae00f_3 per unit b. Conversion costs fill in the blank 737b72014fae00f_4 per unit c. Total manufacturing $fill in the blank 737b72014fae00f_5 per unit 4. Provide the following information: a. The total cost of units transferred out $fill in the blank 737b72014fae00f_6 b. The journal entry for transferring costs from Plate Cutting to Welding fill in the blank 9da370fabf8bfe2_2 fill in the blank 9da370fabf8bfe2_4 c. The cost assigned to units in ending inventory. $fill in the blank a54a7cfa1051fa4_1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I need number 4 for this answered only please: Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Inventory, Activity-Based Costing

Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates:

Driver	Rate	Actual Usage (by Plate Cutting)
Direct labor cost	150% of direct labor	$732,000
Inspection hours	$40 per hour	7,450 hours
Purchase orders	$1,000 per order	800 orders

Other data for the Plate Cutting Department are as follows:

Beginning work in process	—
Units started	750,000
Direct materials cost	$6,000,000
Units, ending work in process (100% materials; 64% conversion)	50,000

Required:

1. Prepare a physical flow schedule. If an answer is zero, enter "0".


Lacy, Inc.
Physical flow schedule
Units to account for:
	fill in the blank 37e8b4041029005_2
	fill in the blank 37e8b4041029005_4
Total units to account for	fill in the blank 37e8b4041029005_5
Units accounted for:
	fill in the blank 37e8b4041029005_7
	fill in the blank 37e8b4041029005_9
Total units accounted for	fill in the blank 37e8b4041029005_10

2. Calculate equivalent units of production for:

	Equivalent Units
a. Direct Materials	fill in the blank 737b72014fae00f_1
b. Conversion Costs	fill in the blank 737b72014fae00f_2

3. Calculate unit costs for the following.

a. Direct materials	$fill in the blank 737b72014fae00f_3	per unit
b. Conversion costs	fill in the blank 737b72014fae00f_4	per unit
c. Total manufacturing	$fill in the blank 737b72014fae00f_5	per unit

4. Provide the following information:

a. The total cost of units transferred out
$fill in the blank 737b72014fae00f_6

b. The journal entry for transferring costs from Plate Cutting to Welding

		fill in the blank 9da370fabf8bfe2_2
			fill in the blank 9da370fabf8bfe2_4

c. The cost assigned to units in ending inventory.
$fill in the blank a54a7cfa1051fa4_1

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