Consider the following process costing at Piper & Gracie: (Click the icon to view the company's process costing.) In Process 3crush and screen limestone rock500 tons of limestone rock were transported to the plant during March. There was no beginning inventory of rock. During March, 340 tons were crushed, screened, and stocked. At the end of March, 160 tons of rock were 50% crushed and screened. Direct labor and overhead are incurred evenly during the crushing and screening process. Requirement 1. Confirm your understanding of the equivalent units concept by computing the equivalent units for material, direct labor, and overhead for Piper & Gracie. Begin by summarizing the flow of physical units and then calculate the output in terms of equivalents units. Physical Units Flow of Production Started and completed Work in process, ending inventory Units accounted for Work done to date 0 Figure x - PROCESS 1 Quarry or Mine Limestone Rock PROCESS 2 Transport Rock to Plant RESOURCES Direct Material Direct Labor Overhead PROCESS 3 Crush and Screen Limestone Rock PROCESS 4 Stock Limestone Finished Goods Cost of Goods Sold