Question Four Ningaloo Coffee Company roasts coffee in a single production department. Direct materials are added at the start of the process. Conversion costs are added evenly during the process. Conversion costs are 70% complete for beginning WIP and 50% for ending WIP. Ningaloo uses the FIFO method of process costing. The following information for July 2020 is available. Equivalent Units Direct Conversion Materials Costs 10,000 7,000 Physical units 10,000 40,000 34,000 Work in process, 1 July Started during July Completed and transferred out during July Work in process, 31 July 34,000 34,000 16,000 16,000 8,000 Costs for July 2020 are as follows: Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for $60,000 70,000 $130,000 280,000 371,000 $781,000 Required: 1. Calculate cost per equivalent unit for direct materials and conversion costs using the FIFO method. (4 marks) 2. Summarize total costs to account for, and assign total costs to units completed (and transferred out) and to units in ending work in process. (3 marks) (Total marks for Question Four: 7)