In March, Pharoah Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had no work in process. During March, Pharoah completed and transferred out 24,000 units. As of March 31, 4,800 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process.

(a)

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Your answer is correct.

Compute the total units to be accounted for.

Total units

enter a total number of units to be accounted for

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(b)

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Your answer is correct.

Compute the equivalent units of production for materials and conversion costs.

		Materials		Conversion costs
The equivalent units of production		enter a number of units		enter a number of units

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(c)

Prepare a cost reconciliation schedule, including the costs of units completed and transferred out and the costs of units in work in process, for March 2022.

Cost Reconciliation Schedule
Costs accounted for
Completed and transferred out			$enter a dollar amount
Work in process, March 31
Materials	$enter a dollar amount
Conversion costs	enter a dollar amount		enter a subtotal of the two previous amounts
Total costs			$enter a total amount for this schedule

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