Question 2 Consider the following data for the Nevada Ceramic Industry has provided the following information for June. Beginning work in process (June 1) a 65 units Units started in January 2005 115 units Completed during January 2005 100 units Ending work in process (June 31) 80 units Beginning work in process costs: Current costs: Materials $110,000 Conversion $340,000 Materials $650,000 Conversion $850,000 a Degree of completion: direct materials 30%; conversion costs, 70%. Degree of completion: direct materials 60%; conversion costs, 40%.|| Required: a. Using FIFO and Weighted Average methods, calculate the cost per equivalent unit for direct materials and conversion costs. Also, summarize the total costs to account for, and assign them to units completed and transferred out) and to units in ending work in process. b. Some companies need a cost accounting system while others do not. What are the determining characteristics or factors that influence the type of cost accounting system that is appropriate for a company? Explain. b