Arboles Company manufactures pencils and has the following information available for the month of July: Work in process, May 1 (100% complete for July, 60% for conversion) 75,000 units $5,000 $17,500 Direct materials Number of units started 100,000 units July costs $ 6,500 $ 24,000 Direct materials Work in process, July 31 (100% complete for materials, 10% for conversion) 70,000 units Required Using the FIFO method of process costing, complete each of the following steps 1. Reconcile the number of physical units worked on during the period. Physical Units Beginning Units Units Started Total Units 75,000Units Completed 100,000Ending Units 175,000 Total Units Physical Units 105,000 70,000 175,000 2. Calculate the number of equivalent units. Equivalent Units Physical Units Direct Materials Beginning Inventory Started and Completed Ending Inventory Total Units 75,000 7,500 70,000 70,000 7,000 145,000 70,000 14,500 3. Calculate cost per equivalent unit. (Round cost per Equivalent Unit to 5 decimal places.) Direct MaterialsConversion Cost per Equivalent Unit 4. Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Current Period Costs Prior Perlod Direct Materlala Conversi on Total Cost Costs Started and Completed Total Cost Accounted for$ 11,500