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EXERCISE 6-8 Equivalent Units and Cost per Equivalent UnitWeighted-Average Method IL02, [03, [04. [051 Grand River Company produces a high-quality insulation material that passes through two production processes. Data for November for the first process follow: Completion with Respect to Conversion Units 80000 Workh process inventory, rovemberl Work process inventory, 30.... Materials cost il work in process inventory, November 1.. Conversion cost h work process inventory Wvember 1... Units started ito moduction. Units transferred to the next Materials cost added during Nwember . Conversion cost added durm Wvanber... Required: Completion with Respect to Materials S/6,600 300000 320000 5410000 1. Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for November for the first process. 2. Compute the costs per equivalent unit for November for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in November.