What is equivalent units of production?

The Finishing Department of Edwards Company has the following production and cost data for July:

transferred out 4,000 units

started 2,000 units that are 40% completed at July 31

Materials addes $30,000; conversion costs incurred $19,200

Materiales are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.

Compute the equivalent units of production for materials and conversion costs for the month of July.

Compute unit costs and prepare a cost reconciliation schedule.