Cornerstone Exercise 6.10 (Algorithmic) Cost Information and the Weighted Average Method Morrison Company had the equivalent units schedule and cost information for its Sewing Department for the month of December, as shown below. Direct Materials Conversion Costs Units completed 41,000 41,000 Add: Units in ending work in process Percentage complete: 14,000 100% direct materials 14,000 14,000 45% conversion materials 6,300 Eqivalent units of output 55,000 47,300 Costs: Work in process, December 1: Direct materials $68,000 Conversion costs 14,000 Total work in process $82,000 Current costs: Direct materials $550,000 Conversion costs 180,000 Total current costs $730,000 Required: 1. Calculate the unit cost for December, using the weighted average method. Do NOT round interim calculations and, if required, round your answer to the nearest cent. $ per equivalent unit 2. Calculate the cost of goods transferred out, calculate the cost of EWIP, and reconcile the costs assigned with the costs to account for. Cost of goods transferred out: Units completed $ Cost of EWIP Total costs assigned (accounted for) $ Reconciliation Cost to account for: BWIP $ Current (December) Total $ 3. What if you were asked to show that the weighted average unit cost for materials is the blend of the November unit materials cost and the December unit materials cost? The November unit materials cost is $4.86 ($68,000/14,000), and the December unit materials cost is $13.41 ($550,000/41,000). The equivalent units in BWIP are 14,000, and the FIFO equivalent units are 41,000. Calculate the weighted average unit materials cost using weights defined as the proportion of total units completed from each source (BWIP output and current output). Do NOT round interim calculations and, if required, round your answer to the nearest cent. $ per unit