1. A Company has the following production data for March:

• Beginning work in process, 2,000 units
• Units transferred out, 42,000
• Units in ending work in process, 6,000, which are 80% complete for conversion costs

Materials are added only at the beginning of the process.

Required: Compute equivalent units of production for both materials and conversion costs.

2. A Company has the following production data for May:

• Beginning work in process, 0 units
• Units started, 62,000
• Ending work in process, 7,000 units that are 100% complete for materials and 60% complete for conversion costs
• Unit materials cost, $7
• Unit conversion cost, $10

Required: Determine the costs to be assigned to the units transferred out and the units in ending work in process.