figures, but efficiency of the Group Project 2 Chapter 17 "I am astounded that we cannot find the cost records for the month of July 2017," said Greg Andrews, plant manager of Detroit Component Works (DCW).I have a division meeting to attend where I will be asked about the plant's July performance compared to June. All I have now are the weighted average cost figures, but those numbers are hardly helpful in answering the question of whether we have improved the efficiency of our performance this month compared to the previous months. I think we have improved the efficiency of our operations, and direct materials prices have also been lower, so I was expecting to report some good news at the division meeting. I need those July numbers now." DCW makes complex aircraft engine components in two operations-machining and assembly. The following is a summary of the Assembly operations in July of 2017. veced100 July Physical Units 120 Direct Materials $16,800 Conversion Cost $9,000 DM CC W-in-P, 7/1* Transferred-in during July 200 100 100 Completed during July 220 200 W-in-P, 7/31** 100 Cost Added during July Weighted average cost Per equivalent unit $131.25 $114 , 37.5 Dug' -* Degree of Completion: Direct Materials, 100%; Conversion Cost, 62.5% Joly-**Degree of Completion: Direct Materials, 100%, Conversion Cost, 80%. Instructions: 1. For each cost element (Direct Materials and Conversion Cost) compute the unit cost for work that was done on the 7/1 units prior to 7/1. 2. For each cost element (Direct Materials and Conversion Cost), compute the equivalent units of work done in the current period only. tio 3. Calculate the Assembly Department costs to account for in July 2017 for each cost element. WA 4. For each cost element, calculate the cost per equivalent unit of work performed in the current period only. These are the numbers that Greg Andrews wants for the division meeting. Prepare a brief report comparing on and commenting on the cost per equivalent unit of work done in the current cos period with cost per equivalent unit using the weighted average method. fifo