Dow Chemical uses process costing for its manufacturing process. In February 2041, the following data is provided:

• Beginning Work-in-Process: 20,000 units (50% complete)
• Units Started: 80,000 units
• Ending Work-in-Process: 10,000 units (40% complete)
• Total Costs: $10,000,000

Requirements:

• Calculate the equivalent units of production.
• Determine the cost per equivalent unit.
• Prepare a production cost report.
• Analyze the cost allocation for the completed units.