Lopez company uses both standards and budgets. for the year, estimated production of product x is 500,000 units. total estimated cost for materials and labor are $1,400,000 and $1,700,000.

compute the estimates for (a) a standard cost and (b) a budgeted cost.

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.