Pirates Corp. (Pirates) produceshigh-quality replicagold coins for toy pirate ships.Producing the coins takes two processes:cutting, for smoothing and cutting the gold,and thenstamping, for printing pictures on the coins. Pirates uses a firstin, firstoutprocess costing system to record inventory andcost of goods sold.The following is the production information for the Stamping department for the month ofOctober. Good units transferred from the Cutting department into the Stampingdepartment are added at the start of this process, with conversioncosts incurred evenlythroughout. A polish is added at the 80% complete point.Beginning work-in-process (WIP)30% complete5,000 unitsCosts in beginning WIP:Transferred-in costs$125,000Conversion costs$95,000Costs added during the month ofOctober:Direct materialspolish$256,000Transferred-in costs (12,000 units)$315,000Conversion costs$198,000Ending WIP90% complete3,500 unitsRequired:a)Complete the process costing report for the month ofOctober.(5marks)b)Using the report in part(a), calculate the following information:i.cost per equivalent unit(1.5marks)ii.total costs transferred out(3marks)iii.ending work-in-process