Question 2 (12 + 3 + 4 + 5 = 24 marks) The following data apply to Emerald Industries in its mixing department for the month of September. All raw materials are fully added at the beginning of the production process and conversion occurs uniformly throughout the production process. On 1 September 2020, the mixing department had work in process comprised of 10,000 units. These units were 20 percent complete in terms of conversion. The table below presents the cost data for work in process inventory (WIP) and costs incurred for the production during September 2020. WIP Inventory 1 September 2020 Costs during September Direct Materials $40,000 $140,000 Direct Labour $10,000 $80,000 Manufacturing Overhead $6,000 $60,000 During September 2020, the mixing department completed and transferred out 65,000 units. At the end of the month, 25,000 units remain in work in process and these units were 40 percent complete with respect to conversion. The company uses a first-in, first-out method of process costing to value production flows and inventories. Required: Answer the following four (4) sub-questions below. You may insert more rows if the space provided is not sufficient. (a) Calculate the following, showing all workings clearly and logically (round all calculations to two decimal places): (1) Equivalent units of production for direct materials and conversion. (il) The cost per equivalent unit for direct materials and conversion during September 2020. (ili) The cost of goods completed and transferred out in September 2020. (iv) The cost of work in process inventory as at 30 September 2020