Assigning coats to products: weighted average method. Jennings Company uses the weighted average method for its process costing system. The molding department at Jennings began January with 80,000 units in work-in process inventory, all of which were completed and transferred out during January. An additional 90,000 units were started during the month, 30,000 of which were completed and transferred out during January. A total of 60,000 units remained in work-in-process inventory at the end of January and were at varying levels of completion, as shown in the following: Direct materials 80 percent complete Direct labor 90 percent complete Overhead 90 percent complete The following cost information is for the molding department at Jennings Company for the Month of january: Beginning WIP Direct materials $1,400,000 Direct labor $1,000,000 overhead $1,700,000 total $4,200,000 Incurred during the month Direct materials $1,210,000 Direct labor $980,000 Overhead $1,450,000 Total $3,640,000 Required: a. Determine the the units to be accounted for and units accounted for; then calculate the equivalent units for Direct materials , Direct labor and Overhead. (Hint: this requires performing step 1 of the four step process.)