2. (25 points) Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department 440 4,260 250 4,450 Materials 70% Conversion Percentage completion of beginning inventory Percentage completion of ending inventory 30% 70% 40% Materials $4,865 $77,706 Conversion $2,993 $101,614 Total Costs in beginning inventory Units started into production $7,858 $179,320 Required: 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report