15 2 points eBook References Exercise 16-13 (Algo) Weighted average: Process costing using a T-account LO P1 Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,700 units in beginning work in process inventory had direct materials costs of $3,100 and conversion costs of $2,300. Also shown is unit data for the Bending department this period. Direct Materials Conversion Percent Units Complete Percent Complete Beginning work in process inventory Units started this period 2,700 100% 20% 6,700 Completed and transferred out 7,700 Ending work in process inventory 1,700 100% 70% Work in Process Inventory-Bending ($) Debit Beginning balance Direct materials 5,400 9,120 Credit Transferred out Direct labor Overhead 15,480 Ending balance a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process Inventory.