Question 3 (6 points) 1. Murray Chemical Company refines a variety of petrochemical products. Murray uses the Weighted Average method of inventory. Below is data provided from the firm: (10 pts) Beginning Work in Process 30,000 units Direct Materials 100% $60,000 Conversion Costs 40% $25,000 Units started 70,000 Units Completed 70,000 Ending Work in Process 30,000 units Direct Materials 100% Conversion Costs 80% Current Costs Direct Materials $122,500 Conversion Costs $299,300 1. Find equivalent units for direct materials and conversion 2. Find the cost per equivalent unit for direct materials and conversion 3. Assign total manufacturing costs