Exercise 23 The Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $135,500 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80,000 of materials costs and $13,000 of conversion costs Other data for the month of July are as follows: Beginning work in process inventory, 7/1 25,000 units (40% complete Units completed and transferred out 90,000 units Ending work in process inventory, 7/31 30,000 units 30% complete Answer the following questions and show computations to support your answers How many physical units have to be accounted for in July? Physical units units What are the equivalent units of production for materials and for conversion costs for the month of July? Equivalent units of production for materials units Equivalent units of production for conversion costs units What is the total cost assigned to the 90,000 units that were transferred out of the process in July? Total cost assigned What is the total cost of the July 31 inventory? Total cost of the July 31 inventory Click if you would like to show work for this question Open Show Work