Jones Company manufactures a single product and uses process costing (FIFO method). The company's product goes through two processing departments, Etching and Wiring. The following activity was recorded in the Etching Department during July: Production data: Units in process, July 1 (materials 60% complete; conversion 30% complete) 50,000 Units started into production 500,000 Units in process, July 31 (materials 80%complete; conversion 40% complete) 60,000 Cost data: Work in process inventory, July 1: Materials cost $ 17,000 Conversion cost $ 3,000 Cost added during July: Materials cost $ 457,200 Conversion cost $ 349,300 Materials are added at several stages during the etching process. The company uses the FIFO method. Required:1. Compute the equivalent units of production2. Compute the costs per equivalent unit for July. (Round your answers to 2 decimal places3.Determine the cost of ending work in process inventory and of the units transferred to the Wiring Department. (Round your intermediate calculations to 2 decimal places.)4. a cost reconciliation between the costs determined in requirement 3 above and the cost of beginning inventory and costs added during the period. (Round your intermediate calculations to 2 decimal places.)