P5.35 Weighted average process costing; analysis of equivalent units: manufacturer LO 5.2 TeleFone Ltd assembles various components used in the telecommunications industry. The company's major product, a relay switch, is made by assembling three parts: A453, B344 and C543. The following information relates to activities in March: beginning work in process inventory: 5 000 units, 60 per cent complete as to conversion; cost, $250 000 (direct materials, $195 000; conversion cost, $55 000) production started: 35 000 units production completed: 34 000 units ending work in process inventory: 6 000 units, 40 per cent complete as to conversion direct materials used: A453, $155 000; B344, $375 000; C543, $250 000 hourly wage of direct labourers, $22; total direct labour payroll, $139 150 overhead application rate: $25 per direct labour hour. All parts are introduced at the beginning of TeleFone's manufacturing process; conversion costs are incurred uniformly throughout the production process. The company uses weighted average cost to allocate costs to production. Required: 1. Calculate the total cost of direct material and conversion during March. 2. Determine the cost of goods completed during the month. 3. Determine the cost of the work in process inventory on 31 March