EQUIVALENT UNIT OF PRODUCTION EXAMPLE Work-in-process on December 1, 2016: Units in Stage of completion: 4,000 Stage of Materials. 60% Costs incurred to date: Conversion costs. 30% Materials cost. Conversion costs $2,456 $3,582 Units started this period. Units completed and transferred out 30,000 this period. 26,000 Costs added to production this month: Materials cost... $25,576 Conversion costs $68,510 Work-in-process on December 31, 2016: Units in process. Stage of completion: Materials.... 40% Stage of completion: Conversion Costs......... 10% REQUIRED Use the charts on the following page to determine the following: 1) The equivalent units of production for materials and conversion costs. 2) The costs per equivalent unit of production for the materials and the conversion costs for the month? 3) The costs assigned to the goods transferred to Finished Goods. 4) The costs assigned to the Ending Work-in-Process FINISHED GOODS WORK IN PROCESS