QUESTION ONE: Equivalent Units and Cost per Equivalent Unit Weighted Average Method MacDonald Limited manufactures a product for which materials are added at the beginning of the manufacturing process. A review of the Company's inventory and cost records for the most recently completed year revealed the following information: Units Mail Conversion 100,000 500,000 $100.000 $157,500 Work in process, Jan. 1 80% complete with respect to converson costs Units started into production Costs added during the year Materials Corsion Units completed during the year $650,000 $997,500 450,000 The Company uses the weighted average method in its process costing system. The ending inventory is 50% complete with respect to conversion costs. Required: a) Compute the equivalent units of production and the cost per equivalent units for materials and for conversion costs. b) Determine the cost transferred to finished goods c) Determine the amount of cost that should be assigned to the ending work-in- process inventory QUESTION TWO: Equivalent Units; Applying Costs-Weighted Average Method Production and cost data for the month of February for Process X of the Couillard Manufacturing Company follow 2000 Production and Unts in process. February 1 (100% complete with respect to materials 25% complete with respect to conversion cost) New to red in PTORER Units completed Units in procent, February 28 (100% complete with respect to waterials; 1/3 complete with respect to conversion cost 3.000 7.000 3,000 3600 Cartrecord Work in process inventory. February 1 Materials Conversion Costs for Februy Materials issued Convertson Total cost to be accounted for 109 $4,760 The company uses the weighted average method in its process costing system Required: al Calculate the equivalent units and unit costs for February for materials and for conversion costs b) Determine the cost transferred to finished goods Determine the amount of cost that should be assigned to the ending work in process and finished goods inventores