Question 5:

Grand Bend Company produces a high-quality insulation material that passes through two production processes. Data for November for the first process follow:

	Units	Completion with Respect to Materials	Completion with Respect to Conversion
WIP, November 1	80,000	50%	25%
WIP, November 30	60,000	45%	20%

	Totals
Materials cost in WIP inventory, November 1	$76,600
Conversion cost in WIP inventory, November 1	34,900
Units started into production	300,000
Units transferred to the next process	320,000
Materials costs added during November	410,000
Conversion cost added during November	234,500

Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent unit for November for the first process.

Compute the costs per equivalent unit for November for the first process.

Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in November.

Please detail the explanation of your answer and not just the figures. Thank you