Jones Steel has been manufacturing ball bearings as one of its main products. Due to the firm's unique production process, materials are not added until conversion is 35% complete. This month started with 250,000 ball bearings in process that had not yet been completed (were 75% complete with respect to conversion cost). Cost incurred on these units totaled $100,000 for materials and $125,000 for conversion. Also, the company started another 80,000 ball bearings from scratch. At the end of the month, 275,000 ball bearings were complete. The incomplete units were 30% complete with respect to conversion cost. Total materials cost for the current month was found to be $30,000 while conversion cost for the current month was $50,000. Use the CH 20 tab of the template to calculate equivalent units of production and cost per equivalent unit based on the above information. Then, in the commentary box, make up your own scenario of increasing or decreasing cost per unit information and comment on the business reasons for the increasing/decreasing cost (similar to what I did in the video for this chapter). BB Started Total to account for Transferred out EB Total accounted for % Materials % Conversion Transferred out EB Total BB $ Current period $ Total $ $/EU $