Exercise 17-35 Weighted Average Method, Unit Cost, Valuing Inventories equivalent units were computed using the weighted average method: Units completed 35,600 Units in EWIP x Fraction complete (24,000 Times 60 percent) 14,400 Equivalent units of output 50,000 April's costs to account for are as follows: BWIP (10,000 units, 80 percent complete) dollar 32,000 Materials 60,000 Conversion costs 24000 Total dollar 116,000 Required: Calculate the unit cost for June using the weighted average method. Using the weighted average method, determine the cost of EWIP and the cost of the goods transferred out. Conceptual Connection: Lorenen had just finished implementing a series of measures designed to reduce the unit cost to dollar 2.00 and was assured that this had been achieved and should be realized for June, the president of the company was disappointed. Can you explain why the full effect of the cost reductions may not show up in June? What can you suggest to overcome this