Required information Use the following information for the Exercises below. The following information applies to the questions displayed below. The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process. Exercise 16-4 Weighted average: Computing equivalent units LO C2 Prepare the department's equivalent units of production with respect to direct materials under each of three separate assumptions using the weighted-average method for process costing. Equivalent Units of Production (EUP)-Weighted Average Method 1. All direct materials are added to products when processing begins. EUP- Materials Units Materials B0,000 16,000 96,000 100% B0,000 16,000 Ending work in process 100% 96,000 Total EUP 2. Beginning inventory is 40 % complete as to materials and conversion costs. Ending inventory is 75 % complete as to materials and conversion costs EUP- Materials % Materials Units 75% Ending work in process 16,000 Total EUP 16,000 3. Beginning inventory is 60% complete as to materials and 40 % complete as to conversion costs. Ending inventory is 30 % complete as to materials and 60 % complete as to conversion costs. % EUP- Materials Units Materials Total EUP