Example #8: The Company had the following information for FY 2018:

Work in Process - 1/1/18	80,000 units
Units Started into Production	600,000 units
# of Units in Work in Process - 12/31/18	50,000 units
Cost of Direct Material put into Production	$716,000
Conversions Costs put into Production	$1,220,000

The beginning work in process was 100% complete as to direct materials and 75% complete as to conversion costs. Note that the percent complete for beginning work in process is not required for the weighted average inventory.

The ending work in process was 100% complete as to direct materials and 40% complete as to conversion costs.

The beginning work in process consisted of:

Direct Material	$100,000
Conversion Costs	$80,000

The Company uses the weighted-average method. Use this information to determine for FY 2018: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

1. the equivalent units of production for direct materials

2. the cost per equivalent unit for materials

3. the equivalent units of production for conversion

4. the cost per equivalent unit for conversion

5. the cost that should be assigned to the Companys work in process inventory at the end of FY 2018