eBook Cornerstone Exercise 6.10 (Algorithmic) Cost Informationand the Weighted Average Method Morrison Company had the equivalentunits schedule and cost information for its Sewing Department forthe month of December, as shown below. Direct Materials ConversionCosts Units completed 46,000 46,000 Add: Units in ending work inprocess × Percentage complete: 20,000 × 100% direct materials20,000 — 20,000 × 45% conversion materials — 9,000 Eqivalent unitsof output 66,000 55,000 Costs: Work in process, December 1: Directmaterials $62,000 Conversion costs 10,000 Total work in process$72,000 Current costs: Direct materials $540,000 Conversion costs180,000 Total current costs $720,000 Required: 1. Calculate theunit cost for December, using the weighted average method. Do NOTround interim calculations and, if required, round your answer tothe nearest cent. $ per equivalent unit 2. Calculate the cost ofgoods transferred out, calculate the cost of EWIP, and reconcilethe costs assigned with the costs to account for. Cost of goodstransferred out: Units completed $ Cost of EWIP Total costsassigned (accounted for) $ Reconciliation Cost to account for: BWIP$ Current (December) Total $ 3. What if you were asked to show thatthe weighted average unit cost for materials is the blend of theNovember unit materials cost and the December unit materials cost?The November unit materials cost is $3.10 ($62,000/20,000), and theDecember unit materials cost is $11.74 ($540,000/46,000). Theequivalent units in BWIP are 20,000, and the FIFO equivalent unitsare 46,000. Calculate the weighted average unit materials costusing weights defined as the proportion of total units completedfrom each source (BWIP output and current output). Do NOT roundinterim calculations and, if required, round your answer to thenearest cent. $ per unit