McCallum Tool Company has two departments, assembly and finishing. The assembly department takes purchased parts and assembles the final product. The finishing department performs testing and adds other materials and packages the product. Direct materials are added at the end of the process in the finishing department. The following summarizes the finishing departments operations for the month of July.

	Number of Units
Work-in-process, July 1, 50% complete for conversion costs		4,000
Transferred in during July		28,000
Completed during July		27,000
Work-in-process, July 31, 50% complete for conversion costs		5,000

Costs

Work-in-process, July 1 (transferred-in costs, $50,000; conversion costs, $30,125)

$

80,125

Transferred in from assembly department during July

150,000

Direct materials added during July

60,750

Conversion added during July

110,000

Total to account for $400,875

1. Equivalent units of transferred-in, direct materials, and conversion.

2. Equivalent unit costs for transferred-in costs, direct materials, and conversion. (Round your answers to 2 decimal places.)

3. Cost of goods completed and transferred out during July.

4. Cost of Work-in-Process Inventory at July 31.

1.	Equivalent units:
	Transferred-in
	Direct materials
	Conversion
2.	Unit costs
	Transferred-in
	Direct materials
	Conversion
3.	Cost of goods completed and transferred out
4.	Cost of ending work in process inventory