Part 2- Process Costing The candy making department at WONKA provides you with the following information for August. All direct materials are placed in process at the beginning of production. The facts are Beginning WIP Purchases Incurred Allocated Completed Ending WIP Aug. 1 WIP 5.000 units (50% complete) Aug, 31DM 312,000 units Aug, 31DL Aug, 31 FO Aug, 31305,000 units Aug. 31 Unfinished units are 20% complete. S40,000 1,000,000 $200,000 $100,000 REQUIRED: Use the weighted average process cost method to identify and classify the costs below: and costs Determine direct materials cost per equivalent u ine cost per unit. 6. Cost of units started and completed during August Part 3- Analysis 1. Write 2 paragraphs comparing and contrasting cost flow utilizing a job order system versus process cost system. Use at least one example to support your argument. 2. Write 2 paragraphs that differentiates between financial and managerial accounting Use at least one example to illustrate managerial accounting decisions