Question 1 (20 marks) ABC, Inc. manufactures a product, plastic pipe that goes through three departments prior to completion. The following information is available for work in the first department, the Cooking Department, during May. Units 70,000 40,000 Percent Completed Materials Conversion 90% 70% 75% $86,000 $36,000 $447,000 $198,000 Work in process, May 1 Work in process, May 31 Work in process, May 1 Cost added during May 25% There are 380,000 units completed and transferred out during May. Required: Assume the company uses weighted-average method. a) Determine the equivalent units for May for materials and conversion. (6 marks) b) Compute the costs per equivalent unit for May. (5 marks) c) Determine the total cost of ending work in process inventory and units completed and transferred out in May. (6 marks) d) Prepare a cost reconciliation report