Question 2 The Fidget Company uses a process cost system for making fidget spinners and cubes. Materials are added at the beginning of the process and conversion costs are uniformly incurred. At the beginning of September the work in process is 40% complete and at the end of the month it is 60% complete. Spoilage is detected at the end of the process. Other data for the month include: Beginning work in process inventory 1,600 units Units started 20,000 units Good Units completed & placed in finished goods 12,000 units Ending work in process inventory 1,200 units Normal spoilage of units inspected 20% Costs in current period: Direct Materials $40,000 Conversion $40,320 Beginning work in process costs: Direct Materials $4,000 Conversion $4,032 Required: Using the Welghted Average method for process costing, complete the following tables. For full marks, please attach your supporting calculations. a. Determine the flow of production for physical units.(2 marks) b. Determine the equivalent units of production. (2 marks) EU elements: Number of Equivalent Units per Input: DM CONV c. Calculate the cost equivalent unit. (2 marks) EU elements: Cost per Equivalent Unit per Input DM CONV d. Determine the total costs to account for. (2 marks) Total Cost elements: DM CONV Total costs to account for: e. Calculate the total cost assignment. (4 marks) DM CONV Total Cost elements: Total costs assigned to Ending WIP: Total costs assigned to Units Completed in June