3. Edney Corporation produces a product that passes through twodepartments. For

3. Edney Corporation produces a product that passes through twodepartments. For October the following equivalent unit schedulewas prepared for the first department (materials are only added atthe beginning of the process):Materials ConversionUnits completed 125000 125000Units ending WIP x fraction complete: Materials (12000 x 100 percent)12000 Conversion (12000 x 20 percent)2400Equivalent units in process 137000 127400Costs assigned to beginning work-in-process:Materials $78440Conversion 31728Manufacturing costs incurred during the month:Materials $75000Conversion 60000Required:a. Compute the unit costs for January using the weighted averagemethod.b. Determine the cost of goods transferred out.c. Determine the cost of endingwork-in-process.