Where do the units come from? Beginning Inventory Started Total Where do the costs come from? Beginning Inventory Current Total Costs to account for Divided by Total Equivalent Units Average Cost/Equivalent Unit Where do the costs go? Completed/Transferred: Direct Materials Conversion Costs Cost of Goods Manufactured Ending Inventory: Direct Materials Conversion Costs Cost of Ending Inventory Total Cost Allocated Equivalent Units and Product Cost Report - Weighted Average Method Company Name Equivalent Units Calculations, Month, 201X Where do the units go? Completed/Transferred Ending Inventory Total Product Cost Report Equivalent Units % Work % Work Done? Direct Materials Done? Conversion Costs Direct Materials Conversion Costs