Bucky€™s Boxes makes boxes for moving. It sells its boxes to major national moving companies. Because of the simple nature of the production process, Bucky€™s uses standard costing. The following information for July 2012 is available

REQUIRED
1. Compute equivalent units for each cost category.
2. Summarize total costs to account for, and assign total costs to units completed and transferred out and to units in ending work in process.

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cal Dirt Conversionn Units Materials Costs Standard cost per equivalent Work in process, beginning inventory July1) Degree of completion of beginning $ 1.30 2.10 97,125 25% unit 185,000 $240,500 100% work in process Started during July Completed and transferred out Work in process, ending inventory (July ) Degree of completion of ending 465,000 512,000 138,000 work in process 100% 80% Actual total costs added during July 607,500 $1,207,415