Boeing Company manufactures aircraft using process costing. In November 2026, the company incurs the following costs related to its aircraft assembly process:

• Airframe Construction Costs: $100 million
• Engine Installation Costs: $50 million
• Avionics and Wiring Costs: $20 million

At the end of the month, there were 5 aircraft in ending work in process inventory, 80% complete for materials and 60% complete for conversion costs.

Required:

• Calculate the equivalent units of production for materials and conversion costs.
• Determine the cost per equivalent unit for materials and conversion costs.
• Allocate costs to completed units and units in ending work in process inventory using the weighted average method.
• Prepare a cost summary report for Boeing Company's aircraft assembly process.
• Analyze the impact of using process costing in aerospace manufacturing.