Question 4 (20 marks) Champion Manufacturing Company uses the FIF0 method in its process costing system. The records of Champion Manufacturing Company for the month of May show the following costs in Department A: $ 80,500 Beginning Inventory Direct Materials 270,000 Direct Labor 357,000 Overhead (150% of Direct Labor Cost) 535,500 Total $1,243,000 The beginning inventory for May consisted of 10,000 units which were 80% complete as to direct materials and 60% complete as to labor and overhead. A total of 100,000 units was completed and transferred out during May, and 20,000 units remained in the work in process inventory. The ending inventory was 80% complete as to direct materials and 40% complete as to labor and overhead. Required: Using the FIFO method: Determine the direct materials cost per equivalent unit. (a) (4 marks) (b) Determine the equivalent units of production for direct labor and overhead. (4 marks) Determine the cost of the 100,000 units completed and transferred out of the (c) department during the month. (7 marks) Determine the cost of the 20,000 units work in process inventory at the end of the (5 marks) (d) month