Fact Pattern:
" Levittown Company employs a process cost system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately. Levittown’s production quantity schedule for November is reproduced in the next column."
Work-in-process November 1
(60% complete as to conversion costs) 1000
Units started during November 5000
Total units to account for 6000
Units completed and transferred out from beginning inventory 1000
Units started and completed during November 3000
Work-in-process on November 30(20% complete as to conversion costs) 2000
Total units accounted for 6000
Using the FIFO method, Levittown’s equivalent units for conversion costs for November are