1. Stewart Inc. uses a process cost system and the weighted-average cost flow assumption. Production begins in the Fabricating Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On March 1, the beginning work in process inventory consisted of 20,000 units which were 60% complete and had a cost of $175,000, $145,000 of which were material costs. During March, the following occurred:

Materials added $305,000

Conversion costs incurred $120,000

Completed units transferred out in March 65,000

Units in ending work in process March 31 (40% complete) 25,000

(a) What are the equivalent units of production for materials and conversion costs in the Fabricating Department for the month of March?

(b) What are the costs assigned to the ending work in process inventory on March 31?

(c) What are the costs assigned to units completed and transferred out during March?