The following data concern the operations of Siu Lek-Yuen Inc.'s processing department for April 2022. Work in process, 1 April Units started into production during April Units completed during April and transferred to the next department Work in process, 30 April Physical Units 10,000 250,000 2,440,000 70,000 Percent Complete Materials Conversion Cost 80% 30% 60% 40% Paul succeeded Peter as the manager of the processing department after the latter retired in end of March 2022. According to the company's records, the conversion cost in beginning work in process inventory was $27,820 and $81,240 for materials and conversion costs respectively. Additional materials of $3,720,000 and conversion cost of $5,916,000 were incurred in the department during the month. Required: (Round your computation to two decimal places, where applicable) (a) Using the weighted average method, for the month of April, (3 marks) (1) determine the total cost of units transferred out of the department; (ii) determine the total cost of ending work-in-process inventory; and (iii) prepare a cost reconciliation report for each process and in total. (2 marks) (3 marks) (b) Paul reported to senior management that he had managed the processing department more effectively than Peter, his predecessor. To check whether Paul's statement is correct, senior management told you to check the date. Use the first-in-first-out method to: (i) determine the total cost of units transferred out of the department; and determine the total cost of ending work-in-process inventory. (4 marks) (2 marks) (ii) (iii) justify (or decline) Paul's claim. (8 marks) (c) Explain the need for equivalent units and why separate equivalent-unit totals are calculated for direct materials and conversion cost. (3 marks)