Exercise 16-05 a-b (Video) In Concord Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2020 are as follows. Beginning Ending Work in Process Work in Process Conversion Units Conversion Month Units Cost% Transferred Out Units Cost% January 11,100 2,200 69 March 12,900 4,600 31 14,500 7,890 80 July 12,100 2,500 43 0 0 May 0 0 May Compute the physical units for January and May. January Units to be accounted for Beginning work in process Started into production Total units Units accounted for Transferred out Ending work in process Total units LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the equivalent units of production for (1) materials and (2) conversion costs for each month. Materials Conversion Costs January March May July