goods completed and transferred out and the cost of ending work in process inventory. Start by recalculating the physical flow of units and output equivalents. Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Aqua Industries for Quarter 4, 2020 aDegree of completion reported in this plant: direct materials, 80%; conversion costs, 50%. More info Data table Each plant uses a process-costing system, and at the end of every quarter, each plant manager submits a production report and a production-cost report. The production report includes the plant manager's estimate of the percentage of completion of the ending work in process as to direct materials and conversion costs, as well as the quantity (sheets) of laminate flooring completed. The corporate controller uses these estimates to compute the cost per equivalent unit of work done for each input for the quarter. Plants are ranked, and the two plants with the lowest cost per equivalent unit for direct materials and conversion costs are each given a bonus and recognized in the company newsletter. Requirements 1. Recalculate the cost per equivalent unit, assuming the actual percentage of completion of ending work in process was 80% for direct materials and 50% for conversion costs. 2. Based on the correct percentage of completion computed in requirement 1 , recalculate cost of goods completed and transferred out and the cost of ending work in process inventory. 3. Why might managers manipulate their quarterly estimates of percentage of completion? Explain. 4. What is the ethical responsibility of each plant controller? 5. What should the corporate controller do? 6. How might the corporate controller learn whether the data provided by particular plants are being manipulated