Section 4: Process costing Zurks Ltd has two main production departments: crafting and finishing. All material used during the crafting process is introduced at the start, whereas materials used by the finishing department are introduced partway through the production process. Conversion costs are applied uniformly throughout production processes for both departments. Data relating to September for the two departments are as follows: Physical units Crafting Finishing Work in process inventory, 1 Sept 10,000 units that are 8,500 units that are 80% 75% converted converted with an estimate of 40% materials applied Units started during the period 31,500 33,500 Work in process inventory, 30 Sept 8,000 units that are 75% 7,000 units that are 70% complete complete with respect to conversion and 40% complete with respect to direct materials Direct material costs Crafting Finishing Work in process inventory, 1 Sept $ 140,650 $ 44.180 Incurred during the period $ 299.250 $ 141,040 Conversion costs Crafting Finishing Work in process inventory, 1 Sept $ 275,000 $ 69,000 Incurred during the period $ 499,200 $ 258,180 Required: Using the first-in first-out (FIFO) method, calculate the following for the finishing department: 1. The cost per equivalent unit. 2. The cost of goods completed and transferred out during September. 3. The cost of ending work in process inventory in September