Question 2. Marks: 25 Consider the following data for the assembly division of Rambo Manufacturer: Flow of Production Work in process beginning (May 1) (a) Started during current period Physical Units (given) 8 55 Direct Materials $5,426,960 Conversion Costs $1,001,440 Completed and transferred out during current period Work in process, ending (May 31) (b) 51 12 Cost added during May $35,420,000 $15,312,000 (a) degree of completion: direct materials, 90%; conversion costs, 40% (b) degree of completion; direct materials, 60%, conversion costs, 30% Note: The assembly division uses the weighted average method of process costing. Required: Follow weighted-average method, assigning costs: 1. Compute the equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. 2. Calculate cost per equivalent unit for direct martials and conversion costs 3. Summarize total costs to account for, and assign these costs to units completed and transferred out and to units in ending work-in-process