Miller Company, which uses the process costing method, manufactures a product for which materials are added at the beginning of the manufacturing process. A review of the company's inventory and cost records for the most recently completed year revealed the following information: Units Materials conversion $157.500 100,000 $100,000 500.000 Work in process. Jan. 1 (80% complete with respect to conversion costs) umits started into production Costs added during the year Materials Conversion Units completed during the year $650,000 $997.500 +50.000 The company uses the weighted average cost method in its process costing system. The ending inventory is 50% complete with respect to conversion costs. Required: Compute the equivalent units of production and the cost per equivalent units for materials and for conversion costs. quium 14 Marks CO2, PO3, C4) SOM (b) Determine the cost transferred to finished goods. 18 Marks (CO2, PO3, C41 Determine the amount of cost that should be assigned to the ending work in process inventory [4 Marks CO2, PO3, C41 (d) Give two examples of types of manufacturing process that are likely to use the process costing [4 Marks)