V. Physical Units Data Beginning Work in Process Units Started to Work in Process Ending Work in Process (100% complete materials, 75% complete for conversion costs Manufacturing Cost Data Beginning work in Process 500 units 1,000 units 600 units Materials Conversion Costs Costs added Materials Conversion Costs 67 67 67 69 $ 750 600 2,400 2,820 Step 1&2. Account for the Physical units and Determine the Equivalent units completed for the month Step 3 Determine the material and conversion costs per equivalent unit Step 4 Prepare a cost reconciliation