The Smith Processing Company had work in process at the beginning and end of March 2020 in its Painting Department as follows: E (Click the icon to view the work-in-process information.) The company completed 35,000 units during March. Manufacturing costs incurred during March were direct materials costs of $150,000 and conversion costs of $300,000. Inventory at March 1 was carried at a cost of $25,000 (direct materials, $5,000 and conversion costs, $20,000). Assuming Smith uses FIFO costing, determine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in ending inventory. Begin by entering the physical units in first, then calculate the equivalent units. Data Table Physical Flow of Production Units Work in process, beginning 20000 Percentage of Completion Direct Materials Conversion Costs Started during current period 50% 25% To account for March 1 (20,000 units) March 31 (50,000 units) 70% 20% Completed and transferred out during current period: From beginning work in process Started and completed Print Done Work in process, ending Accounted for Equivalent unts of work done in current period