000 ob E3-15 Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process (Weighted Average Method) Mirada Company manufactures handheld calculators and has the following information available for the month of July: Work in process, July 1 (100% complete for materials, 25% for conversion) Direct materials Conversion cost Number of units started July costs Direct materials Conversion cost 126,000 units $240,000 $394,000 220,000 units $426.000 $484,000 Work in process, July 31 (100% complete for materials, 10% for conversion) 144,000 units CHA Required: Using the weighted-average method of process costing, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate cost per equivalent unit, rounded to five decimal places. 4. Reconcile the total cost of work in process. 16 Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost