2 Barker Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: 3 Percentage Complete 4 Units Materials 5 Work in process, beginning 800 50% Conversion Costs 20% 5 Started in production 15,000 7 Completed and transferred out 15,600 Work in process, ending 50% 90% Materials Conversion Costs Work in process, beginning Costs added during the period $2,440 $4,928 $96,470 $476,362 Chapter formulas 1. Unit product cost Total manufacturing cost (including overhead)/ Total units produced 2. Equivalent units Number of partially completed units x percentage completion 3. Equivalent units of production = Units transferred to the next department of finished goods + Equivalent units in ending work in process inventory 4. Cost per equivalent unit (Cost of beginning WIP + Cost added during the period)/Equivalent units of production I Part 1: Calculate the actual units in ending work in process for the most recent period. (2 marks) 2 B Work in process, ending Part 2: Calculate the following. (12 marks) Equivalent units of production Cost per equivalent unit Materials Equivalent units Conversion Costs