Exercise 16-13 (Algo) Weighted average: Process costing using a T-account LO P1 Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,900 units in beginning work in process inventory had direct materials costs of $3,300 and conversion costs of $2,500. Also shown is unit data for the Bending department this period. Direct Materials Conversion Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Percent Percent Units: Complete Complete 2,900 100% 20% 6,900 7,900 1,900 100% 70% Work in Process Inventory-Bending (5) Debit Credit 5,800 10,420 2 Transferred out 0 15,960 Beginning balance Direct materials Direct labor Overhead Ending balance a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process Inventory.