Lights Incorporated calculates cost for an equivalent unit of production using the weighted average method. $ 122,950 77,400 $ 200, 350 Data for July: Work-in-process inventory, July 1 (35,000 units): Direct materials (97% completed) Conversion (46% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (97% completed) Conversion (46% completed) Cost incurred during July: Direct materials Conversion costs 86,000 95,900 25, 100 $ 185,500 266,000 Total equivalent units for materials under the weighted-average method are calculated to be