3. Nyanza Corporation manufactures a product that is processed in two departments. Materials are added at the beginning of the process. Units in beginning work in process are 40% complete as to conversion costs. The following equivalent unit schedule was prepared for the first department for the month of January Physical units Units in beginning work in process (BWIP) 10,000 Started 45,000 Units to account for 55,000 5,000 Units in beginning work in process (BWIP) 10,000 Units started and completed 40,000 Units in ending work in process (EWIP) Units accounted for 55,000 Weighted average equivalent units: Materials Conversion Units completed and transferred 50,000 50,000 Units, ending work in process (EWIP) * percentage complete: 5,000 x 100% 5,000 5,000 x 60% 3.000 Equivalent units of output 55,000 53,000 Costs assigned to beginning work in process: Materials $12,500 Conversion $8,400 Manufacturing costs incurred during the month: Materials $42,500 Conversion $18,100 Required: a. Using the weighted average method: 1. Compute the unit cost (cost per equivalent unit) for the month of January (Round answer to four decimal places.) 2. Determine the cost of goods transferred out. 3. Determine the cost of ending work in process. b. Using the FIFO method: 1. Compute the equivalent units schedule and the unit cost (cost per equivalent unit) for the month of January (Round answer to four decimal places.) 2. Determine the cost of goods transferred out. 3. Determine the cost of ending work in process