Knowledge Check Question 01: Conversion cost is composed of direct labor and manufacturing overhead direct material and manufacturing overhead equivalent units in ending inventory manufacturing overhead Knowledge Check Question 02: Equivalent units is computed using which of the following formulas? Equivalent units = Number of completed units x Percentage completion Equivalent units = Number of partially completed units x Percentage completion Equivalent units = Number of completed units X (100% Percentage completion) Equivalent units = Number of partially completed units X (100% + Percentage completion)