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 2015 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.

Conversion Costs S 1.30 S2.10 Work in process, beginning inventory(July1 185,000 $240,500 97,125 Units Materials Standard cost per equivalent unit Degree of completion of beginning work in process Started during July Completed and transferred out Work in process, ending inventory (July 31) Degree of completion of ending 100% 25% 465,000 512,000 138,000 work in process Actual total costs added during July 100% 80% S607,500 $1,207,415