Alaska Inc. Produces something that has two production processes. Data for November for the first process follows:

Completion%

Units Material Conversion

Work in process November 1 80,000 50% 25%

Work in process November 2 60,000 45% 20%

Material cost in Beginning WIP $76,600

Conversion cost in beginning WIP $34,900

Units started into production 300,000

Units transferred to second process 320,000

Material Cost added during November $410,000

Conversion cost added during November $234,500

Required:

1) Assume that the company uses the weighted average method of Process Costing. In a report format calculate the equivalent units and the cost per equivalent unit for November.

2) Determine the ending balance in the WIP account AND the total cost transferred to next process.