Question #3 WST Company is a manufacturer of winter clothes. It has a knitting department and a finishing department. This question focuses on the finishing department. Direct materials are added at the end of the process in the finishing department while conversion costs are added evenly during the process in the finishing department. WST uses the weighted-average method of process costing. The following information for August 2022 is available: Conversion Units Transferred In Costs Direct Materials Costs Work in Process, August 1 500 0% 80% Transferred In During August 10,000 Completed & Transferred Out 9,700 Work in Process, August 31 ? 0% 40% WIP Costs, August 1 Costs Added during August Total Costs $52,500 $0 $39,240 $91,740 $1,260,000 $145,500 $461,760 $1,867,260 $1,312,500 $145,500 $501,000 $1,959,000 Required: Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to the units completed (and transferred out) and units in ending work in process. Show the appropriate journal entries WST would make in August based on this information