Pura Vida Company manufactures a product that only has one production process. Direct materials are added at the beginning of the manufacturing process and no units are lost/wasted during production. Pura Vida uses the weighted average cost method in its process costing system. Here is some additional data about Pura Vida Company's Work In Process (WIP) inventory: January lst units in WIP 92,000 units % complete conversion opening WIP Material costs in opening WIP 92,235 Conversion costs in opening WIP 115,294 Units started during January 461,000 units Units completed and transferred to Finished Goods Invento in Janua Direct material cost added during month 461,175 392,000 units Conversion costs added during month 5 599,528 96 complete conversion ending WIP NOTE: lfthe data above is blank it means you haven't entered your student number on the Cover tab. Required: Please answerthe following 3 questions using the data above. I have left space after each question foryourto do yourwork. The production report template that we used in class has been provided as an additional tab. If you need more space you can insert a row. Please do not use column A as I would like to use it to record my marking. 1 Compute the equivalent units of production and the cost per equivalent unit for materials and for conversion costs. (6 marks) 2 Determine the costs to be transferred from the work in process inventory account to finished goods. (1 mark) 3 Determine the amount of cost that should be assigned to the ending work in process inventory. (1 mark)