Acme Company uses a highly automated process to manufacture specialty foldable bicycles. The company uses a process costing system using the weighted-average method for costing. The costing system uses two categories: direct materials (DM) and conversion costs (CC). You are the manager of the painting department and have the following data at your disposal: Work in process, beginning inventory: 1,800 units Cost (DM $25,000, CC $18,000) 18% complete for DM 20% complete for CC Units started during the period: 5,000 units Cost (DM $1,000,000, CC $1,700,000) Units completed and transferred 2,000 units Units in ending inventory 4,800 units 25% complete for DM 65% complete for CC Required: a) Calculate the equivalent units for both DM and CC. (5 marks) b) Calculate the total costs for DM and for CC and calculate the total cost per unit for each. (5 Marks) c) Calculate the equivalent units for both DM and CC if Acme would use the FIFO method. (5 Marks)