Question 2 Part B. (10 marks) Macquarie Filters produces an air filter for use in jet aircraft. Parts are added at several points in the production process. In March, production began with 600 filters in Work in Process, 80 percent complete as to materials and 70 percent complete as to labor and overhead. During the month, an additional 2,700 units were started into production. Seven hundred filters were in Work in Process at the end of the month, and they were 70 percent complete as to materials and 60 percent complete as to labor and overhead. Cost information for March Beginning work in Cost added in March process inventory Direct material $45,000 $267,090 Direct labor 11,000 76,580 Manufacturing overhead 80,000 496,820 Total $136,000 $840,490 (5 marks) Requirements: (1) Calculate the cost per equivalent unit for each of the three cost items and in total (ii) Calculate the cost of items completed in March and the cost of ending Work in Process inventory