4/7 Question 2 {25 marks) The following data concem the operations of Sin Lek Yuen lnc.'s processing department for April 2D22. Physical P r nt 1 m Materials Conversion Qost Work in process. 1 April l 80% 30% Units started into production during April 250,DDU Units completed during April and transferred to the next department 2.440.000 Work in process. 3D April TEMP! 60% 4D% Paul succeeded Peter as the manager of the processing department after the latter retired in end of March 2022. According to the company's records, the conversion cost in beginning work in process inventory was $2?,820 and $81,240 for materials and conversion costs respectively. Additional materials of $320300 and conversion cost of $5.916,0 were incun'ed in the department during the month. Required: (Round your computation to two decimal places, where applicable) (a) Using the weighted average method, for the month of April, (i) determine the total cost of units transferred out of the department: [3 marks] [ii] determine the total cost of ending work-in-process inventory; and [2 marks] [iii] prepare a cost reconciliation report for each process and in total. (3 marks] [b] Paul reported to senior management that he had managed the processing department more effectively than Peter, his predecessor. To check whether Paul's statement is contact. senior management told you to check the date. Use the rst-in-rst-out method to: (i) determine the total cost of units transferred out of the department; and [4 marks] [ii] determine the total cost of ending work-in-process inventory. [2 marks] [iii] justify [or decline) Paul's claim. [8 marks]