A business makes one product that passes through a single process. This business uses weighted average costing. The details of the process for the last period are as follows Material $98,000

Labour $ 60,000

Production overheads $ 39,000

Units added to the process $ $1,000

There were 200 units of operating WIP which are valued as follows: Material $22,000 Labour $ 6,960 Production overheads $ 3,000 There are 300 units of closing WIP fully complete as to materials but only 60% complete for labour and 50% complete for overheads. There was no process losses

Required: a) Calculate the lost to be assigned to completed output for the period

b) Why is it necessary to calculate equivalent units