QUESTION 3: XYZ Production Company produces one type of product at one process. Wastage doesn't occur during the production process. The Company applies First in First Out (FIFO) cost method as the inventory cost method. Production costs and quantity information for December 2020 period are as follows: Beginning work in process 7.000 units Work done in current period 10.000 units Completed and transferred out in current period 9.000 units Cost of Beginning Work in Process Direct Materials Costs Direct Labor Costs 70.000 TL 50.000 TL Manufacturing Overhead Costs 40.000 TL Production Costs of the Current Period Direct Materials Costs 210.000 TL Direct Labor Costs 150.000TL Manufacturing Overhead Costs 160.000 TL The Percentage of Completed Beginning and Ending of the Period Work in Process Inventory Respect to direct materials cost %70 Respect to direct labor cost %50 Respect to manufacturing overhead cost %40 Required: The Company of XYZ applying the process costing method: a) Calculate Equivalent Products Units. (15 p) b) Calculate Unit Costs. (10 p) c) Calculate the total costs of Completed Finished Goods and Ending of the Period Work in Process Inventory. (10 p)