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 24,500 107.000 Total units 131,500 Total Cost Materials Labour Overhead Whole Unit Cost to be accounted for: Work in process, June 1 Cost added by the department $ 34,000 163.540 $ 27,300 70,000 $ 2,680 29,880 $ 4,680 54,680 Total cost (a) S188.200 $100,300 $ 32,560 $ 59,340 Equivalent units (b) Cost per EU. (a) (b) 131.500 $ 0.81 120,400 + $ 0.27 120.400 + $ 0.40 $1.57 Required: 1. Prepare a schedule showing how the equivalent units were computed for the first processing department Equivalent Units (EU) Materials Labour Overhead Quantity Schedule 113,000 113,000 113,000 113,000 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 18.500 18.500 7.400 7.400 120.400 131.500 131.500 120.400 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 Cost accounted for as follows: Transferred to the next department Work in process, June 30: Materials Labour Overhead Total work in process 0 0 0 0 0