2. Alvey Corporation uses the weighted average method in its process costing system, This month, the beginning inventory in the first processing department consisted of 200 units. The costs of the 200 partially completed units in beginning inventory were: Materials Costs $7,000 Conversion Costs $9,000 5000 units were completed and transferred to the Polishing department (WIP - Polishing) during the month. The following costs were incurred in the first processing department, the Forming Department (WIP-Forming) during the month: Materials Costs $65,000 Conversion Costs $46,000 The ending inventory of 2000 units were 50% complete with respect to materials and 25% complete with respect to conversion costs. (14 points) A. Calculate Equivalent Units For Materials and Conversion Cost Conversion Cost Materials B. Calculate Cost Per EU for Materials and Conversion Cost Materials Conversion Cost C: Assign costs to Ending WIP and Goods Finished wd Transferred Out Units Ending WIP Finished and Townsferred Out D. Record necessary Journal Entry to Transfer Cost to WIP-Polishing Department Debit Credit