Part A- Weighted Average Cool Fizzy Ltd's division A produces soft drinks in standard sizes. Set out below is information for the month of January: 4,000 units $6,000 $12,000 8,000 units 8,000 units Work-in-process inventory, 1 January Direct materials: 100% complete Conversion: 50% complete Units started during January Units completed and transferred out during January Work-in-process inventory, 31 January Direct materials: 100% complete Conversion costs: 50% complete Costs incurred during January Direct materials Conversion $12,000 $128,000 Question 3 Part A continued over page 8 1901/110.229 Distance/Internal Assignment 1 Booklet Manawatu/Auckland/Distance Question 3 Part A continued Required: Show ALL your workings. Using the weighted_average method complete the following (i) Calculate equivalent units of direct materials and conversion for the month of January (4 marks) ii) Calculate direct material cost and conversion cost per equivalent unit for the month of (8 marks) January (ii) Prepare an analysis of total costs showing the cost of goods completed and transferred out during January and cost of WIP inventory on 31 January, as per Exhibit 5.4 (p. 192) (4 marks) of the textbook