Problem 1: LII'J'PEII Butter {Process Costing] [1.5 points} Lovely Butter produces peanut butter using a two-stage process: grinding and packaging. The following information is availahfe in the packaging department for the month of August: Beginning WIF' {units} 150 Costs transferred from grinding $450 department - Cost of materiafs in packaging $2,000 95% completed} - Conversion costs [50% $1.000 $3.450 completed} Units transferred in August from 3'50 grinding department Ending work in process (units) 200 Costs transferred from grinding in $2,625 August Conversion costs incurred in August $5.500 Material costs incurred in August $12,000 The ending WIP was 50% complete w.r.t. materials and 25% complete w.r.t. conversion costs. Compute costs transferred out and costs in ending WIP for the packaging department using the weighted average method