Exercise 16-05 In Shady 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 Work in Process Conversion Units Cost% Month Ending Work in Process Conversion Units Cost% 2,300 70 3,500 32 7,470 80 2,500 47 January March Units Transferred Out 11,600 12,300 15,500 11,200 0 0 0 May July 0 Compute the physical units for January and May, January May 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 Compute the equivalent units of production for (1) materials and (2) conversion costs for each month. Materials Conversion Costs Compute the physical units for January and May. January May 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 Compute the equivalent units of production for (1) materials and (2) conversion costs for each month. Materials Conversion Costs January March May July