Problem 2 (Ch.4): Bachelet Inc, uses the weighted average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. 400 90% Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost 40% $ 756 4,448 Units started into production during the month 13,000 Costs added to production during the month: Materials cost Conversion cost $ 29,949 $362,127 Work in process, ending: Units in process Percent complete with respect to materials Percent complete with respect to conversion 100 50% 30% Required: Using the weighted average method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of units transferred out of the department during the month. d. Determine the cost of ending work in process inventory in the department. e. Construct a cost reconciliation report for the department for the month. Equivalent Units of Production Materials Conversion Units transferred to next department Equivalent units in ending WIP Materials: Conversion: Equivalent units of production Cost Per Equivalent Unit Materials Conversion Total Cost of beginning WIP Costs added during the period Total cost Equivalent units of production Cost per equivalent unit Total Cost of Ending Work in Process Inventory and Units Transferred Out Ending WIP: Materials Conversion Equivalent units Cost per equivalent unit Cost of ending WIP Units Completed and Transferred Out: Units transferred to next department Cost per equivalent unit Cost of units transferred out Cost Reconciliation Costs to be accounted for: Cost of beginning WIP Costs added to production during period Total cost to be accounted for Costs accounted for as follows: Cost of ending WIP Cost of units transferred out Total cost accounted for