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Cochabamba Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Cochabamba uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units are measured in gallons): Production: Units in process, April 1, 60% complete 27,500 Units completed and transferred out 44,500 Units in process, April 30, 20% complete 12,000 Costs: WIP, April 1 $ 90,600 Costs added during April 350,260 Required: Download Excel spreadsheet Prepare a production report for the cooking department. Round cost per equivalent unit value to the nearest cent and use rounded value in intermediate calculations. Cochabamba Cooking Department Production Report For the Month of April (Weighted Average Method) Unit Information Physical flow: Units to account for: Units in beginning work in process Units started Total units to account for Units accounted for: Units completed Units in ending work in process Total units accounted for Equivalent units: Units completed Units in ending work in process Total equivalent units Cost Information m mm m Costs to account for: Costs in beginning work in process Costs added by department Total costs to account for Cost per equivalent unit Costs accounted for: Goods transferred out Goods in ending work in process Total costs accounted for Transferred $:] :1 $:] Ending Work $:] [:1 $:] Loren Inc. manufactures products that pass through two or more processes. During April, equivalent units were computed using the FIFO method: Units started and completed 4,600 Units in BWIP X Fraction to Complete (60%) 840 Units in EWIP X Fraction Complete (4,000 X 60%) 2,400 Equivalent units of output (FIFO) 7,840 April's costs to account for are as follows: BWIP (40% complete) $1,120 Materials 10,000 Conversion cost 4,000 Total $15,120Required: 1. Calculate the unit cost for April using the FIFO method. Round your answer to the nearest cent. 2. Using the FIFO method, determine the cost of EWIP and the cost of the goods transferred out. In your calculations round unit cost to the nearest cent and your final answers to the nearest dollar. Cost of ending work in process $:] Cost of goods transferred out $:]