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Use a process costing system. 2,000 units were in process at the beginning of the period, 60% complete. 20,000 units were started into production during the period; 1,000 were in process at the end of the period, 60% complete. Compute equivalent units for conversion costs.
Equivalent units for conversion costs.
= Completed units of Opening Stocks in this month+ Production started- Incomplete units of closing stock
= (40% of 2000) + 20000- (40% of 1000)
=800+20000-400
=20400 units