Required information [The following information applies to the questions displayed below.] Timing Technology, Inc., manufactures timing devices. During 20x1, 1,300,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1, there were 310,000 units in work in process. These units were 47 percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 364,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January 1, 201. A review of the inventory cost records disclosed the following information: Costs Units Direct Material Direct Labor Work in process, January 1, 20x1 (82% complete as to conversion) Units started in production 300,000 1,310,000 306,000 $ 313,400 Direct-material costs $2,270,000 Direct labor costs $2,433,430 Required: 1. Complete the following schedule as of December 31. 20x1. to compute the physical flow of units.