A company produces a single product using a process costing system. During the month of June, the company completed 5,000 units of product and transferred them to finished goods. There were 2,000 units of product in process at the beginning of June, and 3,000 units of product in process at the end of June. The company incurred $30,000 in direct materials cost during the month of June, and $20,000 in conversion costs (direct labor and overhead).

What are the equivalent units that are in the Work In Process account?

 What is the per unit material cost? 

What is the per unit conversion cost?

To solve use these formulas:

Equivalent Units = Units Completed + Units in Ending WIP * % Complete

Per Unit Material Cost = Total Material Cost / Equivalent Units

Per Unit Conversion Cost = Total Conversion Cost / Equivalent Units