Part 3 Problem Compute equivalent production. The Hotshot Manufacturing Company, which has four producing departments, uses the process cost accounting system. Production data for August, the first month's operations, are given below. Dept 1 Dept 2 Dept 3 Dept 4 Quantity Started in production 10,000 Transferred In From Prior 9,000 8,200 7,500 Department Transferred Out to Next Department 9,000 8,200 7,500 Transferred Out to Finished Goods 5.700 Work in Process-Ending 1,000 800 700 1.800 Stage of Completion of Ending Work in Process Materials 100% 90% 80% 80% Labor 10% 40% 30% 80% Overhead 10% 40% -40% 80% Instructions Compute the equivalent units of production for materials, labor, and overhead for each department for the first month