Martin Company manufactures a single product. The company uses the weighted average cost method in its process costing system. Activity for June has just been completed. An incomplete production report for the first processing department follows: Quantity Schedule Units to be accounted for: Work in process, June 1 (all materials, 75% labour and overhead added last month) Started into production Total units 17,000 92,000 109,000 Total Cost Whole Unit Materials Labour Overhead Cost to be accounted for: Work in process, June 1 Cost added by the department Total cost (a) Equivalent units (b) Cost per EU, (a) (b) $ 16, 660 123, 040 $139, 700 $ 12, 300 61,000 $ 73, 300 109,000 $ 0.67 $ 1, 480 20, 880 $ 22, 360 102, 400 $ 0.22 $ 2, 880 41, 160 $ 44, 040 102, 400 $ 0.43 = $1.32 Required: 1. Prepare a schedule showing how the equivalent units were computed for the first processing department. Equivalent Units (EU) Quantity Schedule Materials Labour Overhead 98,000 98,000 98,000 98,000 : Units accounted for as follows: Transferred to the next department Work in process, June 30 (all materials, 40% labour and overhead added this month) Total units and equivalent units of production 11,000 11,000 109,000 109,000 98,000 98,000 2. Complete the cost reconciliation part of the production report for the first processing department. (Round your intermediate calculations to 2 decimal places.) Equivalent Units (EU) Materials Labour Overhead Total Cost $ 65,660 21,560 42,140 129,360 Cost accounted for as follows: Transferred to the next department Work in process, June 30: Materials Labour Overhead Total work in process 0 Total cost $ 65,660