Question No 3 (10 Marks) Able Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month:

Work in process, beginning: Units in process 300 Stage of completion with respect to 60% materials Stage of completion with respect to 30% conversion Costs in the beginning inventory: Materials cost $342 Conversion cost $2.394 Units started into production during the 21,000 month Units completed and transferred out 20,700 Costs added to production during the month: Materials cost $44,136 Conversion cost $546,750 Work in process, ending: Units in process 600 Stage of completion with respect to 80% materials Stage of completion with respect to 30% conversion