In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $7. On March 1, it had no work in process. During March, Kelly transferred out 20,000 units. As of March 31, 3,000 units that were 30% complete as to conversion costs and 100% complete as to materials were in ending work in process.

Compute the total units to be accounted for.

Total units

eTextbook and Media

Compute the equivalent units of production.

		Materials		Conversion costs
The equivalent units of production

eTextbook and Media

Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.

Cost Reconciliation Schedule
Costs accounted for
Transferred out			$
Work in process, March 31
Materials	$
Conversion costs
Total costs			$