QUESTION 4 CCC Ltd uses a process costing system in their practice Work in process inventory, March 1 Work in process inventory, March 31 Materials Cost in Work in Process Inventory, May 1 Conversion Cost in Work in Process Inventory, May 1 Units transferred to the next production department Materials cost added during May Conversion cost added during May Determine the equivalent units of production Units completed and transferred out of the Department in May Materials Conversion 11,000 11,000 Units Materials Conversion 15,000 10% 20% 20,000 20% 30% $20,000 $220,000 11,000 $130,000 $139,000