(22 points) Rey's Manufacturing manufactures wheelbarrows. Each wheelbarrow must pass through the Assembly Department (first) and the Finishing Department (second). Rey's uses the FIFO method in their process costing system. The following data is available for December for the Finishing Department: 1. Units: Beginning inventory - 12/1 85% complete wrt Finishing Materials and Costs: 1,200 Beginning WIP 12/1 Assembly Costs (Transferred in costs)$27,684 50% complete wrt Finishing Conversion Transferred in from Assembly in December. 18,000 Finishing Conversion Ending inventory- 12/31 Finishing Materials $3,871 $8,362 December costs: $451,800 50,638 950 Assembly costs transferred in 90% complete wrt Finishing Materials and 80% complete wrt Finishing Conversion Finishing materials costs Finishing conversion costs $174,895 a. b. c. d. Under FIFO, what was equivalent units of production for December for each element? Under FIFO, what was the cost per equivalent unit in December for each element? What was the total cost of units transferred out during December? What was the total cost of units in ending inventory at December 31? Use the information from Problem 1 to answer the following questions 1. 2. 3. What was the average cost/unit of the wheelbarrows transferred to Finished Goods in December? What was the average cost/unit of the wheelbarrows started and completed in December? What was the average cost/unit of the wheelbarrows started in November and completed in December