The following is a production report for Department of Lance Company, a paint manufacturer: Cost (DM $250,000, CC $180,000) Work in process, beginning inventory: 80,000 units 25% complete for DM 35% complete for CC Cost (DM $2,000,000, CC $1,500,000) Units started during the period: Units completed and transferred 350,000 units 330,000 units Units in ending inventory: 100,000 units 85% complete for DM 45% complete for CC Required: a. Calculate the Equivalent Units for Direct Materials (DM) and Conversion Costs (CC) using the WACM method. Show all your work and calculations. (7.5 Marks) b. Calculate the Cost Per Equivalent Units for both Direct Materials and Conversion Costs. Show all your calculations and round your cost to two decimal points. (7.5 Marks)