Equivalent Units Whole Direct Units Materials Conversion Inventory In process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Costs per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department Total equivalent units Cost per equivalent unit Costs assigned to production: Direct Materials Conversion Total Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Cutting Department Cost allocated to completed and partially completed units: Inventory in process, January 1 balance To complete Inventory in process, January 1 Cost of completed January 1 work in process Started and completed in January