ExxonMobil processes crude oil and generates by-products. In February 2043, the following data is provided:

• Beginning Work-in-Process: 10,000 barrels (60% complete)
• Units Started: 90,000 barrels
• Ending Work-in-Process: 15,000 barrels (40% complete)
• Total Costs: $15,000,000
• By-products Revenue: $500,000

Requirements:

• Calculate the equivalent units of production.
• Determine the cost per equivalent unit.
• Prepare a production cost report.
• Allocate by-product revenue to main product costs.