Answer:
1. materials = 569,000 units , conversion = 556,000 units
2. materials = $1.15 , conversion = $0.70
3. materials = $44,850 , conversion = $18,200 , total = $63,050
Explanation:
For this question, i will assume that the <em>Weighted Average Cost Method</em> is used since we do not have information on the specific method applied by this company.
<u>Calculation of the equivalent units of production for materials and conversion</u>.
1. Materials
Closing Work in Process (65,000 × 60%)            =    39,000
Completed and Transferred to Finished Goods =  530,000 
Equivalent units of production for materials       =   569,000
2. Conversion Costs
Closing Work in Process (65,000 × 40%)            =    26,000
Completed and Transferred to Finished Goods =  530,000 
Equivalent units of production for materials       =   556,000
<u>Calculation of the cost per equivalent unit for materials and conversion</u>
Remember : 
<em>Cost per equivalent unit = Total Costs ÷ Total Equivalent units</em>
<em>therefore,</em>
1. Materials
Cost per equivalent unit =  ($ 106,000 + $ 551,120) ÷ 569,000 
                                         =  $1.15
2. Conversion Costs
Cost per equivalent unit =  ($ 59,700 + $ 328,230) ÷ 556,000 
                                         =  $0.70
<u>Calculation of the cost of ending work in process inventory for materials, conversion, and in total</u>
Materials ($1.15 × 39,000)                             = $44,850
Conversion Costs ($0.70 × 26,000)             = $18,200
Total cost of ending work in process           = $63,050