Weighted Average Method, Unit Cost, Valuing Inventories Cassien Inc. manufactures products that pass through two or more processes. During June, equivalent units were computed using the weighted average method: Units completed 65,000 Units in EWP X Fraction complete (36,000 X 60%) 1,600 Equivalent units of output 86.600 June's costs to account for are as follows WIP (10,000 units 80% complete Materials Conversion costs Tobal Required: $50,000 98,000 19,000 1237,000 1. Calculate the unit cost for June using the weighted average method. Round your answer to the nearest cent. per unit 2. Using the weighted average method, determine the cost of EWIP and the cost of the goods transferred out. If required, round unit cost to the nearest cent in intermediate calculations and final answers to the nearest dollar. Cast of ending work in process Cost of the goods transferred out 3. Cassien had just finished implementing a series of measures designed to reduce the unit cost to $2.00 and was assured that this had been achieved and should be realized for June's production. Yet, upon seeing the unit cost for June, the president of the company was disappointed. Can you explain why the full effect of the cost reductions may not show up in June? What can you suggest to overcome this problem?