Telnet Industries produces its product using a single production process. For the month of August, Telnet Industries determined its cost per equivalent unit to be as Requirements follows: 1. Determine the total cost that should be assigned to the following: (Click the icon to view the costs per equivalent unit.) a. Units completed and transferred out b. Units in ending work in process inventory During the month, Telnet completed and transferred out 550,000 units to finished goods inventory. At month-end, 98,000 partially complete units remained in ending work in process inventory. These partially completed units were equal to 74,000 equivalent units of direct materials and 60,000 equivalent units of conversion costs. Requirement 1a. Determine the total costs that should be assigned to the units completed and transferred out. (Enter the number of units completed and transferred out in the first answer box. Enter the amounts direct materials and conversion costs to the nearest cent and total to the nearest dollar.) Telnet Industries Assignment of Costs Direct Materials Conversion Costs Total Assign costs: Completed and transferred out a. Requirement 1b. Determine the costs that should be assigned to the units in ending work in process inventory. For each category of costs, enter the number of units in ending work in process inventory in the first answer box, then enter the applicable cost amount, and finally calculate the total cost. Telnet Industries Assignment of Costs Assign costs: Direct Materials Conversion Costs Total Units Cost Units Cost b. Ending work in process inventory: Direct materials Conversion costs Total cost of ending work in process inventory - X Data Table Direct Materials Conversion Costs Cost per equivalent unit $ 5.20 3.25 Print Done