Raphael's Refining uses a weighted average process costing system. For October, its opening inventory consisted of 100 items (60 per cent complete as to conversion costs) whose costs were $1700 made up of direct material $400 and conversion costs $1300. During the month, 1000 items were started and 950 were completed. Ending inventory of WIP was complete as to conversion costs. There was no spoilage. Costs placed in work in process during the month were direct materials $1800 and conversion costs $13 700. Direct Materials are added at the beginning of the production process. Required: Analyse the physical flow of units for Raphael's. (4 marks) 2. Calculate the equivalent units for Direct Materials and Conversion costs. (4 marks) 3. Calculate the cost per equivalent unit for Direct materials and Conversion costs. (4 marks) 4. Analyse the total costs including calculation of: 1. Cost of goods completed and transferred out during October. (2 marks) 2. Cost of work in process as at 31st October. (2 marks)