Problem 9: Cost of Production Report The following information is available for the month January. All materials are added at the start of the process. Balance Debit Credit Item Debit Credit Date Jan. 1 Bal. 32,000 units 2/5 completed 66,304 31 Direct materials 648,000 units 1,231,200 1,297,504 31 Direct labor 174,400 1,471,904 31 Factory Overhead 84,416 2,356,320 31 Completed 629,600 units 1,448,464 907,856 907,856 31 Bal.? Units, 3/5 completed Required: 1. Compute the EUP of materials and conversion costs. 2. Compute the number of units in work in process inventory at the end of the month. 3. Compute the cost per equivalent unit for materials and conversion costs. 4. Compute the cost of units transferred. 5. Compute the cost of the work in process inventory end. A Problem 10: Cost of Production Report The following data are available for the year 2020 for Tess Corp., which uses weighted-average process costing. Beginning inventory (40% complete) Units started during 2020 Units completed during 2020 Ending inventory (70% complete) Costs of inventory at beginning of 2020 Production costs incurred during 2020 Required: a. Compute equivalent production for 2020. 15,000 units 260,000 units 250,000 units 25,000 units P13,750 P419,600 b. Compute the unit cost for the year 2020 to the nearest cent.. c. Compute the cost of the ending inventory of work in process. d. Compute the cost of goods completed and transferred to finished goods. e. Tess now uses FIFO. Compute ending inventory of work in process.