Answer:
                         Equivalent units
Material                         62,000
Conversion cost                   24,000
Explanation:
Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.
Equivalent units = Degree of completion (%) × Number of units
Equivalent unit for Material
Item                 unit           Equivalent units
Transferred out       38,000 ×  100% = 38,000
Closing WIP           24,000×  100% = 24,000
Equivalent unit of material              62,000
The degree of completion for WIP is taken to be 100% because materials are always added at the beginning, therefore all the amount of raw material required is already imputed.
Equivalent unit for Conversion cost
Item                 unit           Equivalent units
Transferred out       38,000 ×  100% =    38,000
Closing WIP           24,000×  20% =    4800
Equivalent unit of conversion             42,800
                           Equivalent units
Material                         62,000
Conversion cost                   24,000
