3. (30 points) Rene Corporation produces one product, a specialized lubricant for all purpose use. Direct materials are added at the beginning of the production process and conversion costs are incurred evenly throughout the process. The company uses process costing (weighted average method). The work-in-process inventory on May 1 consisted of 12,000 cans ( 100% complete as to material, and 30% complete as to conversion costs) with a total cost of $20,400 (material of $15,600 and conversion costs of $4,800). During the month of May, Rene incurred direct material costs of $161,000 and conversion costs of $61,200, and placed 180,000 cans into production. At the end of the month, 6,000 cans were not completed. The cans were 60% complete as to conversion costs. a. What are the equivalent units for direct materials and conversion costs for the month of May? b. What is the cost per can? c. What is total cost of goods transferred