online quiz (page 6 of 10) X Search Results | Course Hero x 1 + https://moodle.koi.edu.au/moodle/mod/quiz/attempt.php?attempt=736760&cmid=219275&page=5 KOI E-Learning Library Academic Calendar KOI Website Student Portal Teachers' Contact List Administration Contact List Web 702 Managerial Accounting T323 My courses / ACC702_0323 / Week 4 Responsibility Accounting, Management Control and Planning (Budgeting) / First online quiz Time left 0:29:02 To correctly allocate costs to products within a continuous production environment, we are required to cost both the units completed and the partially complete units still in Work in Process (WIP). To achieve this, we use the concept of equivalent units: Calculate the equivalent complete units based on the level of completion of the partially complete WIP. out of Complete the following: question A company had 1911 units in opening WIP and started 20837 during the month and completed 17960 units and the closing WIP units were 100% complete in relation to Direct Materials (DM) and 66% complete in relation to Conversion Costs (CONV). The company's costs (including opening WIP and Incurred during the month were: DM costs $97895 and CONV costs $60241. Calculate the COST of the closing WIP in relation to CONVERSION (ONLY) for this month? Note - only use WHOLE UNITS - by rounding if necessary Answer: Mart nage Search DI prt sc home end F8 F9 F10 F11 % K 5 E