Lawncraft, Inc. manufactures wooden lawn furniture using an assembly-line process. All direct materials are introduced at the start of the process, and conversion cost is incurred evenly throughout manufacturing. An examination of the company's Work-in-Process Inventory account for June revealed the following selected information:

Debit side:

June 1 balance: 200 units, 25% complete as to conversion, cost $18,000 *

Production started: 800 units

Direct material used during June: $43,000

June conversion cost: $30,000

Credit side:

Production completed: 600 units

*Supplementary records revealed direct-material cost of $12,000 and conversion cost of $6,000.

Conversations with manufacturing personnel revealed that the ending work-in-process inventory was 75 percent complete as to conversion.

Required:

1. Determine the number of units in the June 30 work-in-process inventory.

2. Calculate the cost of goods completed during June and prepare the appropriate journal entry to record completed production.

3. Determine the cost of the June 30 work-in-process inventory.

4. Briefly explain the meaning of equivalent units. Why are equivalent units needed to properly allocate costs between completed production and production in process?