Required information Problem 6-40 (Static) Weighted-Average Method [LO 6-2, 6-3, 6-4] [The following information applies to the questions displayed below] The T. L. Lin Company manufactures a variety of natural fabrics for the clothing industry in a suburb of Shanghai. The following data in Chinese currency called yuan (CNY) pertain to the month of October Work-in-Process Inventory, October 1 Direct materials: 60% complete Conversion: 30% complete. Costs incurred during October Direct materials Conversion 50,000 units 55,440 yuan 54,425 yuan 820,400 yuan 1,350,600 yuan During October, 200,000 units were completed and transferred out. At the end of the month, 30,000 units (direct materials 80% and conversion 50% complete) remain in Work-in-Process Inventory Part 1 (Static) Required: Calculate each of the following amounts using weighted-average process costing 1. Equivalent units of direct materials and conversion 2. Costs per equivalent unit for direct materials and conversion (Round your answers to 3 decimal places.) 3. Cost of goods completed and transferred out during October 4. Cost of the Work-in-Process Inventory at October 31.