Nestl uses process costing for its chocolate production. The following information is provided for the month of March 2024: Beginning Work in Process: 500 units

Nestlé uses process costing for its chocolate production. The following information is provided for the month of March 2024:
•Beginning Work in Process: 500 units (60% complete)
•Units started: 4,500 units
•Ending Work in Process: 600 units (40% complete)
•Costs: Beginning WIP ($10,000), Added during the month ($90,000)
Required:
1.Calculate the equivalent units of production for March.
2.Determine the cost per equivalent unit.
3.Prepare the cost reconciliation for March.