Momo Company produces car seat in two department: Cutting Department and Assembly Department and record its production using the FIFO method of process costing. In Cutting Department, conversion cost is added evenly throughout the production process, while direct material is added according to the design. Summary data for October 2020 is as follows: Conversion Cost $12,000 Physical Direct Units Materials Work in Process, Beginning Inventory* 100 $19,000 Started in Production 600 Work in Process, Ending Inventory 200 Total Cost added during October $135,000 *degree of completion: 80% for direct material and 50% for conversion cost degree of completion: 60% for direct material and 30% for conversion cost $130,000 Required: 1. Calculate equivalent units for direct materials and conversion costs (7%). Please assume no spoilage. 2. Calculate the cost per equivalent units for direct materials and conversion costs (4%). 3. Summarize the total cost to account for and assign them to units completed and transferred out and to units in ending inventory (8%). 4. Prepare journal entries for: a. Usage of direct materials (2%). b. Incurrence of conversion costs (2%). c. Transferring the cost of units completed to Assembly Department (2%)