7. Based on the below details: 8 points a. Compute the equivalent units of production for direct materials, and conversion using the weighted average method. b. Calculate the cost of finished products transferred from work-in-process account. Direct materials Units % complete Beginning work in process inventory 900 66 Conversion % complete 45 Costs Direct Material $1,300 Conversion Units started this period 5,400 19,300 $1,950 12,100 Units completed and transferred 4,800 Ending WIP inventory 1,500 85 68 Work Area