Massive Mining Co. refines iron ore for export markets. The following data relates to the company’s mine for the month of April:

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25,000 units of work in process existed on April 1, the costs for which were as follows: Direct materials Conversion $18,500 $36,750 Production of 35,000 units commenced during April. The costs incurred during the month for refining were as follows: Direct material Conversion $300,000 $230,000 The closing work in process on April 30 was 15,000 units. Materials were added at the beginning of the refining process and conversion was one-third complete at month end. 1. Calculate the cost per equivalent unit for the month of April using the weighted average method of process costing. 2. Calculate the value of work in process and the value of completed inventory transferred to finished goods during the month.