Tires R Us uses a weighted average process costing system. The following applies to conversion costs for

December:

Conversion costs are added uniformly through the process.

$70,000$ units were started and are $70\%$ complete

$7,000$ units in Work in Process on December $1$

$11,000$ units in Work in Process on December $31$ at $60\%$ complete

What are equivalent units for conversion costs? $($Use the following formulas to guide you through the

calculation$).$

First, solve for the completed units:

Ending Balance $=$ Beginning Balance $+$ Units Started $-$ Units Completed

Then, calculate the equivalent units for the units left in ending inventory.

Finally, add the units completed and the equivalent units from ending inventory to calculate the total

equivalent units for conversion costs.

$23,600$

$72,600$

$80,600$

$66,000$