Practice On August 1, Torun Company had a work-in-process inventory of 10,000 units. The units were 80% complete for direct materials and 40% complete for conversion, with respective costs of $20,000 and $6,000. During the month, 18,000 units were transferred out and 4,000 units remained in the ending work-in-process inventory. The units in the ending work-in-process were 60% complete with respect to direct materials and 20% complete with respect to conversion costs. Costs added during the month were $41,200 for direct materials and $27,840 for conversion. 1. Calculate the equivalent units of production for direct materials and conversion costs 2. Calculate the cost per equivalent unit for direct materials and conversion 3. Calculate the cost of goods manufactured 4. Calculate the costs in ending work-in-process inventory 5. Cost reconciliation