Part II 6 marks) Bob Company uses weighted average in process costing and has three components in a unit in April: % completed Materials Units Packing Conversion 2 90% Work in process (WIP) Apr 1 Work in process Apr 30 100% 100% 82% 80% Work in process inventory Apr 1 Cost added during Apr $1,700 82,000 $384 $6,000 $42,000 Total cost of units transferred out and ending WIP are $136,008. Cost per equivalent unit for Packing, Materials, & Conversion are $1,550, $120, and $860 respectively. During April, 50 units were completed and transferred out. Required (Use vertical format): (a) Compute the WIP amount on Apr 1 for Conversion. (3 marks) (b) Compute the percentage completed on Apr 30 for Conversion. (3 marks) Part III (2 marks) Even a company sets its prices to cover actual direct materials, actual direct labor, and applied manufacturing overhead costs, why the company may still incur a loss? Briefly give two reasons (less than 20 words). (2 marks)