3. (9 points) Anchor Inc, uses the weighted-average method in its process cos system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process Costs in the beginning inventory $67,000 $50,750 Materials cost. Units started into production during the mont... Units completed and transferred ou 130,000 120,000 Costs added to production during the month: Materials cost. Conversion cos. $500,000 $226,000 Work in process, ending: Units in process.. % of completion with respect to materials % ofcompletion with respect to conversion 15,000 40% 20% Required: Prepare a process costing departmental production report (calculation of equivalent units, cost per equivalent unit, and cost reconciliation) for the department using the weighted-average method. Round the cost per unit to the nearest cent