Q7: Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Work in process, October 1...... Work in process, October 31..... Units 30,000 15,000 Percent Completed Materials Conversion 65% 30% 80% 40% The department started 175,000 units into production during the month. 3 Page Required: 1. Compute the number of units completed and transferred out during October. 2. Compute the equivalent units of production for materials and conversion for October assuming that the company uses the weighted average method of accounting for units and costs