17A-20B 0 Computing equivalent units for a second department with beginning work in process Inventory; assigning costs to completed units and onding work in process; weighted average method [50-60 min] OccanBound uses throe processes to manufacture lifts for personal wateccrafts: forming a life's parts from galvanized steel, assembling the lift, and testing the completed lifts. The lifts are transferred to finishod goods before shipment to maninas across the courtery. OceanBound's Testing Department requires no direct materials. Conversion costs are incurred evenly throughout the testing process. Other information follows: The cost transferred into Finished goods inventocy is the cost of the lifts transferred out of the Testing Department. OceanBound uses weighted-avernge process costing. Requirements 1. Draw a timeline for the Testing Department. 2. Use the timeline to compute the number of equivalent anits of work performed by the Testing Department during the period. 3. Compute OceanBound's transferred-in and conversion eosts per equivalent unit. Use the unit costs to assign total costs to (a) units completed and transferred out of Testing and (b) units in Testing's eading Work in process inventozy. 4. Compute the cost per unic for lifec completed and transferred out to Finsished goods inventory. Why would managemeat be interested in this cost