Example Ltd uses process costing. Material is introduced at the start of all processes and conversion costs are applied uniformly throughout. Data pertaining to one department for March are as follows:

Opening work in process: 6,000 units that are 60% converted, comprising materials $72,000 and conversion cost $45,900

Units started during the period: 16,000

Closing work in process: 4,000 units that are 75% complete

Materials costs incurred during the period: $192,000

Conversion costs incurred during the period: $225,000

Required:

Using the weighted-average method, calculate the following for the department:

1.The cost per equivalent unit.

2.The cost of goods completed and transferred out of the department during March.

3.The cost of the 31 March work in process inventory in the department.