SB $($Algo$)$ Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process $[$LO $3-2,3-4]$

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Mirada Company manufactures handheld calculators and has the following information available for the month of July:

Work in process, July $1$

$(100\%$ complete for materials, $25\%$ for conversion$)134,000$ units

Direct materials $ $248,000$

Conversion cost $ $402,000$

Number of units started $228,000$ units

July costs

Direct materials $ $434,000$

Conversion cost $ $492,000$

Work in process, July $31$

$(100\%$ complete for materials, $10\%$ for conversion$)152,000$ units

E$3-15($Algo$)$ Weighted$-$Average Method $[$LO $3-2]$

Required:

Using the weighted$-$average method of process costing, complete each of the following steps:

Reconcile the number of physical units worked on during the period.

Calculate the number of equivalent units.

Calculate cost per equivalent unit.

Reconcile the total cost of work in process.