Furniture Wala Ltd., a manufacturer of dining tables, procures wood as its direct material. The dining tables are initially processed in the…

Furniture Wala Ltd., a manufacturer of dining tables, procures wood as its direct material. The dining tables are initially processed in the Moulding department and subsequently transferred to the Laminating department, where a plastic layer is applied. The Moulding department began manufacturing 35,000 initial dining tables during the month of March 2025 for the first time and their cost is as follows: Direct material: 1,15,500 Moulding costs: 59,500 Total 1,75,000 A total of 28,000 dining tables were completed and transferred to the Laminating department, the rest 7,000 were still in the Moulding process at the end of the month. All of the Moulding department's direct materials were placed but on average, only 25% of the conversion costs were applied to the ending work in progress inventory. Required to calculate: (i) Equivalent units of production for each cost. (ii) The Moulding cost per Equivalent units. (iii) Cost of closing work-in-process (WIP) and finished products.