Equivalent Units; Weighted$-$Average and FIFO Unit Cost equivalent unit of production using process costing.Pablo Company calculates the cost for anData for JuneWork$-$in$-$process inventory, June $1$: $30,000$ unitsDirect materials: $100\%$ complete$ $60,000$Conversion: $40\%$ complete$24,000$Balance in work$-$in$-$process, June $1$$ $84,000$Units started during JuneUnits completed and transferred out$70,000$Work$-$in$-$process inventory, June $3070,000$Direct materials: $100\%$ complete$30,000$Conversion: $80\%$ completeCost incurred during JuneDirect materialsConversion costs$$120,000$Direct laborApplied overhead$120,000$Total conversion costs$180,000$$$300,000$