Hello I'm stuck in this question its Hard to understand

the question:

and the yellow ones is how the teacher solved it , I don't how he come up with the answers !

I need an explanation of it and the formula that used , he didn't mentioned FIFO method or wighted average .

the 3 and 4 I don't know the answers of them .

thanks .

Mirror Products manufactures mirrors and uses a standard process costing system. The following production and cost data are based on June 2022. This information represents the standard cost of one unit: 6.SOSAR Direct material Conversion 12.505AR Total manufacturing cost 19.005AR Beginning WIP 20,000 units (100% DM; 80% conversion) Started in June 180,000 units Completed inJune 140,000 units Ending WIP ??? (100%DM 60% conversion) Actual costs forJune: Direct material 1,500,0005AR Conversion 2,000,0005AR Total actual cost 3,500,0005AR 1. Prepare an equivalent unit of production schedule. 2. Prepare a cost of production report and assign costs to goods transferred and to inventory. 3. Compute the direct material variance and conversion cost variance. Show all work. What is the total amount to be booked against the cost of goods sold? 4. Based on your analysis above, does this product appear to be a good source of income for the firm? Should it continue operations? Why or why not? Critical Thinking Assignment Rubric 2022 CT Solutions Module 3 Mirror Products manufactures mirrors and uses a standard process costing system. The following production and cost data are based on June 2022. This information represents the standard cost of one unit: Direct material 6.50SAR Conversion 12.50SAR Total manufacturing cost 19.00SAR 20,000 units (100% Beginning WIP DM; 80% conversion) Started in June 180,000 units Completed in June 140,000 units ??? (100%DM 60% Ending WIP conversion) Actual costs for June: Direct material 1,500,000SAR Conversion 2,000,000SAR Total actual cost 3,500,000SAR 1. Prepare an equivalent unit of production schedule. 2. Prepare a cost of production report and assign costs to goods transferred and to inventory. 3. Compute the direct material variance and conversion cost variance. Show all work. What is the total amount to be booked against cost of goods sold? 4. Based on your analysis above, does this product appear to be a good source of income for the firm? Should it continue operations? Why or why not? SOLUTIONS: #1 units material conversion Beginning Inventory 20000 Units started 180000 units to account for 200000 beginning inventory complete 20000 1000 units started & completed 120000 120000 120000 units completed 140000 ending inventory 60000 60000 36000200000 180000 160000 Mirror Products Cost of Production Report For the Moreh of June 3022 Production data material Beginning inventory 20000 units started 187000 units to account for 200000 Beginning inventory complete units started & completed 120000 120900 120800 ending inventory 140000 cup 60000 3.5000 250000 150000 Cost data total BI: DM 130000 130000 CC 200000 200100 current costs DM 1170000 1170800 CC 2000000 Total cost to account for 3600000 1200060 Cost asignment transferred out ending inventory: 190800 130000 conversion