Lawncraft, Inc. manufactures wooden lawn furniture using an assembly-line process. All direct materi- als are introduced at the start of the process, and conversion cost is incurred evenly throughout manu- facturing. An examination of the company's Work-in-Process Inventory account for June revealed the following selected information:

Debit side:
June 1 balance: 200 units, 25% complete as to conversion, cost $18,000* Production started: 800 units
Direct material used during June: $43,000 June conversion cost: $30,000

Credit side:
Production completed: 600 units
*Supplementary records revealed direct-material cost of $12,000 and conversion cost of $6,000.
Conversations with manufacturing personnel revealed that the ending work-in-process inventory was 75 percent complete as to conversion.

Required:

1. Determine the number of units in the June 30 work-in-process inventory.

2. Calculate the cost of goods completed during June and prepare the appropriate journal entry to record completed production.

3. Determine the cost of the June 30 work-in-process inventory.

4. Briefly explain the meaning of equivalent units. Why are equivalent units needed to properly allo- cate costs between completed production and production in process?