To correctly allocate costs to products within a continuous production environment, we are required to cost both the units completed and the partially complete units still in Work in Process (WIP). To achieve this, we use the concept of equivalent units: Calculate the equivalent complete units based on the level of completion of the partially complete WIP. Complete the following: A company had 2088 units in opening WIP and started 89333 during the month and completed 12796 units and the closing WIP units were 100% complete in relation to Direct Materials (DM) and 29% complete in relation to Conversion Costs (CONV). The company's costs (including opening WIP and Incurred during the month were: DM costs $104356 and CONV costs $45720