Exercise 3-12 (Static) Weighted average: Cost per equivalent unit; costs assigned to products LO P1 HI-T Company uses the weighted average method of process costing Information for the company's first production process follows. All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process. Direct Materials Conversion Percent Percent Complete Complete 100% 80% Beginning work in process inventory Completed and transferred out Ending work in process inventory Units 2,000 23,000 7,000 100% 404 $ 45,000 56,320 $ 101,320 Beginning work in process Direct materials Conversion Coste added this period Direct materials Conversion Total costs to account for 375,000 341,000 716,000 $ 117,320 a. Compute the equivalent units of production for both direct materials and conversion b. Compute the cost per equivalent unit for both direct materials and conversion c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the equivalent units of production for both direct materials and conversion Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the equivalent units of production for both direct materials and conversion. Equivalent Units of Production: Weighted average Direct Materials Percent Complete EUP Conversion Percent EUP Complete Total Required B > Required A Required B Required c Compute the cost per equivalent unit for both direct materials and conversion. (Round "Cost per EUP" to 2 decimal places.) Direct Materials Conversion Cost per Equivalent Unit of Production Total costs - Equivalent units of production Cost per equivalent unit of production