Mirada Company manufactures handheld calculators and has the following information available for the month of July: Work in process, July 1 (100% complete for materials, 25% for conversion) Direct materials Conversion cost 134,000 units $ 248,000 $ 402,000 Number of units started 228,000 units July costs Direct materials Conversion cost $ 434,000 $ 492,000 Work in process, July 31 (100% complete for materials, 10% for conversion) 152,000 units Required: Using the FIFO method of process costing, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate cost per equivalent unit. 4. Reconcile the total cost of work in process. Reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Completed Ending Units Units Started Total Units Total Units Calculate the number of equivalent units. Equivalent Units Physical Units Direct Materials Conversion Beginning Inventory Started and Completed Ending Inventory Total Units Calculate cost per equivalent unit. (Round cost per Equivalent Unit to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Prior Period Costs Current Period Costs Direct Materials Conversion Total Cost Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted for 0 0 $