China Pacific Ltd. has a department that manufactures wooden horses. The following information is for the production of these wooden horses for the month of February:

Work-in-process inventory, 1 Feb.	40,000 wooden horses
Direct materials cost: 100% complete	$400,000
Conversion: 20% complete	$460,000
Units started during February	60,000 wooden horses
Units completed during February and Transferred out	80,000 wooden horses
Work-in-process inventory, 28 Feb	20,000 wooden horses
Direct materials:	100% complete
Conversion cost:	40% complete
Costs incurred during February
Direct materials	$200,000
Conversion	$380,000

Required:

(a) Using the weighted-average method, calculate the following:

(i) Costs per equivalent unit.

(ii) Cost of goods completed and transferred out.

(iii) Cost remaining in the ending work-in-process inventory.

(b) Using the first-in first-out method, calculate the following:

(i) Costs per equivalent unit.

(ii) Cost of goods completed and transferred out.

(iii) Cost remaining in the ending work-in-process inventory