Uptown, Inc. manufactures plastic storage crates and has the following information available for the month of July. Using the following information answer questions 2-7 using the weighted average method (32pts) Work in Process Inventory, July 1 (100% complete for materials, 50% complete for conversion) 60,000 units Direct Materials Conversion Costs $50,000 $70,000 Number of units started in July 100,000 units July Costs Direct Materials Conversion Costs $150,000 $200,000 Work in Process Inventory, July 31 (100% complete for materials, 50% complete for conversion costs) 50,000 units Answer the following questions: 2. Reconcile the number of physical units worked on during the period.(4pts) 3. Calculate the total number of equivalent units for Direct Materials and Conversion Costs. (12 pts) Direct Material Conversion EU of production Units completed and transferred Units of Ending Inventory Total Equivalent Units Outline 4. Calculate the cost per equivalent unit for materials. (4 pts) 5. Calculate the cost per equivalent unit for conversion costs. 4 pts) 6. Reconcile and Assign costs to units completed and transferred and ending WIP Inventory. (4 pts) 7. What is the total value of ending inventory that should be reported in the financial statements for WIIP inventory? (4 pts)