The following data pertain to the galvanized steel department of Ontario Iron and Steel Works Inc. for January 2020: 

The metallic component is introduced at the start of the process, while the zinc and other chemical compounds are added when the product reaches an 80% stage of completion. Conversion costs are incurred uniformly throughout the process. 

The ending work in process is 40% completed for conversion costs. None of the units in process reached the 80% stage of completion.

1. Compute the equivalent units and unit costs for January. 

2. Compute the total cost of units completed and transferred to finished goods. Also compute the cost of the ending work in process.  

Transcribed Image Text:

Units: Costs: Work in process, December 31 Units started Completed and transferred to finishing department Materials: Metallic component Zinc and other chemical compounds Conversion costs 0 25,000 20,000 $225,000 $ 30,000 $110,000