recorded in the accounting journal? 3. Why contribution margin income statement is used for decision making rather than the traditional income statement prepared based on cost function? Part B: Math Solving 54 Marks 1. Kurtulus Corporation uses the weighted average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: 600 Units Material Conversion Costs $7,000 $2,300 Percentage Complete 55% 25% Units started into production during the month 6,500 Units transferred to the next department during the month 5,700 Material Conversion Costs added during the month $110,100 $83,200 Ending work in process inventory: 1400 units Material Conversion 70% 55% Required: i. Compute the equivalent units of production for the first department for the month. (5) ii. Compute the cost per equivalent unit for the first department for the month. (5) iii. Apply cost to determine the value of ending work in process inventory and the units completed and transferred out to next department