One department of Guelph Instruments Company manufactures basic handheld calculators. Several materials are added at various stages of the process. The outer front shell and the carrying case, which represent 10 percent of the total materials cost, are added at the final step of the assembly process. All other materials are considered to be “in process” by the time the calculator reaches a 50 percent stage of completion.

During 2010, 74,000 calculators were started in production. At year-end, 6,000 calculators were in various stages of completion, but all of them were beyond the 50 percent stage and, on the average, they were regarded as being 70 percent completed.

The following costs were incurred during the year: direct materials, $205,520; conversion costs, $397,100. There were no WIP inventories.

1. Prepare a schedule of physical units and equivalent units.

2. Tabulate the unit costs, cost of goods completed, and cost of ending work-in-process.