Exercise 1) At the start of period, Wally's Wacky Wigs had work in process inventory consisting of 2,500 units that were 58 percent complete with respect to materials and 27 percent complete with respect to conversion costs. The cost of the units was $81,340 ( $41,785 of material cost, $25,110 of labor, and $14,445 of overhead). A total of 6,660 units were completed and transferred to the next department. During the period, the company incurred $25,054 of material cost and $64,800 of conversion costs (47% of this cost was labor). There were 5,210 units in ending work in process that were 79 percent complete with respect to