Question B.1 (20 Marks) a. Explain the meanings of assigning, tracing" and allocating' costs; "cost pool cost-driver quantity' and'cost-driver rate b. Explain what broad averaging means, and the effects it might have on the costs of outputs (cost objects). Explain why managers might or might not be concerned about over-costing or under-costing products. Consider the following data for the Assembly Division for Crystal Inc.: c. The Assembly Division uses the weighted-average method of process costing Physica Direct Materials Conversion Units Costs S1 000 Beginning work in process (May) 50 $2 000 Started in May 200 Completed and transferred out during 210 ay Ending work in process (May 31)* 40 8 000 Total costs added during May $9 000 * Degree of completion: direct materials, 50%; conversion costs, 60%. "Degree of completion: direct materials, 80%; conversion costs, 30% Required Using the weighted-average method: i. Calculate equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule ii. Summarise 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. (4+4+ 12- 20 Marks)