Question 1 (10 marks) jhsulateMe Ltd produces a high-quality insulation material that passes through two production processes. Data for June for the first process follow: Work in process inventory, June 1 60,000 units (Direct material 75% completed and conversion 40% completed) Work in process inventory, June 30 to be calculated in part (a) below: (Direct material 50% completed and conversion 25% completed) Direct material costs in work in process inventory, June 1 $56,000 Conversion costs in work in process inventory, June 1 $14,900 Units started into production 280,000 units Units completed and transferred out 300,000 units Direct materials costs added during June $385,000 Conversion costs added during June $214,500 Required: Using the weighted average method (a) Calculate the physical units in ending work in process inventory. physical =physical & phynical unts beginning wip starten (b) Calculate the total equivalent units for direct material and conversion. (c) Calculate the cost per equivalent unit for direct material and conversion (d) Calculate the cost of units completed and transferred out, and the cost of ending work in progress inventory