Apple Inc. manufactures electronic devices such as iPhones and iPads using the weighted-average method for process costing. During the month of August, Apple began production with 15,000 units in the beginning work in process inventory, which were 40% complete as to conversion costs. The company completed an additional 30,000 units during the month, and 10,000 units remained in ending work in process inventory, which were 60% complete as to conversion costs.

Process Stage	Units Started & Completed	Equivalent Units of Production
Beginning Inventory	15,000 units	6,000 units
Production	30,000 units	30,000 units
Ending Inventory	-	6,000 units

Calculate the equivalent units of production for direct materials and conversion costs, and then prepare a cost of production report for the month of August for Apple Inc. Discuss how process costing facilitates the calculation of equivalent units and the assignment of costs to units completed and ending work in process inventory.