Beginning inventory was 4,000 units, one-fourth complete as to labor and factory overhead. During the period, 30,000 units were started in process and 28,000 units were finished. There were 6,000 units in ending work in process, one-half complete as to labor and factory overhead. Assuming that all materials are put into production at the beginning of the process, while labor and overhead are applied evenly throughout production. 3. Determine the equivalent units of production for direct materials and for direct labor and factory overhead Lexington Lumber Co. processes rough timber to ob and C. The company allocates costs to the joint products on the basis of market value. During the month of May, Lexington incurred total production costs of S300,000 in producing the following: 4. Grade Thousand Board Feet Selling Price per 1,000 Board Feet 200 300 500 $200 100 150 Allocate the costs for each product