The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process. Quarter Beginning WIP Started Transferred Out Conversion (%) 1 — 134,150 133,350 25 2 522 132,595 132,542 24 3 340 133,245 133,425 20 4 487 134,842 134,329 23 What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.   Quarter 1 Quarter 2 Quarter 3 Quarter 4 Units for material costs fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 Units for conversion costs fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.