QUESTION 1 50 marks Southcoast factory produces and sells Surfboards. The company uses the weighted average method of process costing system to produce the boards. It has two production departments namely Assembly and Testing department and categorises its production costs into two categories direct materials and conversion costs. The production process of its Assembly department adds direct materials into production at the beginning of the process and adds the conversion costs evenly during the process. The Assembly department will transfer immediately its finished boards to Testing department. Data available for March 2021 on its Assembly department are: Work in process 1 March 2021 Degree of completion (material completed last month) Started during March 2021 Completed during March 2021 Work in process 31 March 2021 Degree of completion (material completed this month) Total costs added during March 2021 Units of Direct Conversion Boards materials costs 5,000 S 1,400,000 $ 460,000 100% 60% 15,000 18,000 2,000 100% 70% $ 5,600,000 $2,838,000 (15 marks) (15 marks) Required (show your workings): (a) Determine the equivalent units of Material and Conversion cost in March for Assembly department. (b) Determine the costs per equivalent units of Material and Conversion cost in March for Assembly department. (c) Determine the cost of goods finished and transferred to Testing department in March. (d) Determine the cost of the ending working process inventory in March for Assembly department. (10 marks) (10 marks)