1. Department P had the following information regarding equivalent units of production, which were determined using first-in-first-out process costing method: Department P had 8,000 units in work-in-process at the beginning that is 70% materials and 40% conversion completed. 34,000 units were added during the period. 12,000 units were in work in process ending inventory with 60% material and 25% conversion completed. The cost information is as follows: Total Cost Material Conversion Cost Cost Work-in-process beginning $ 3,000,000 $ 2,000,000 $1,000,000 Cost Added $18,000,000 $10,500,000 $7,500,000 Required: Using the first-in-first-out process costing method, determine:(Please show your computations fully) What are the equivalent units of production for materials and conversion cost? What is the cost per unit for materials and conversion cost? (III) What is the total cost per unit? (1) The cost of the units started LAST period and completed THIS period The cost of units started THIS period and completed THIS period (111) The cost of units transferred out, and (iv) The cost of work-in-process ending inventory. (IT)