Hugo, Inc. has a process costing system at its Plainfield Avenue Plant. All materials are introduced when

conversion costs reach $50$ percent complete. The following information is available for physical units during

August:

Work in process, August $1(25\%$ complete as to conversion costs$)$

Units started in August

Units transferred out to Finishing Department in August

Work in process, August $31(60\%$ complete as to conversion costs$)$

$20,000$ units

$240,000$ units

$200,000$ units

Answer Questions $1$ through $5$ assuming Hugo Inc. uses the weighted average method with a process costing system to account for WIP. Thank you

Question $1$: Compute the number of equivalent units of materials in beginning inventory.

Question $2$: compute the number of equivalent units of conversion costs in beginning inventory.

Question $3$: Compute the total number of equivalent units of materials to be accounted for in August.

Question $4$:Compute the total number of equivalent units of conversion costs to be accounted for in August.

Question $5$: If the total conversion costs for August equal $$340,000,$ what is the value of conversion costs assigned to ending inventory?