Peridot Company's grinding department had the following data for the month of January: Production:

Units in process, January 1, 70% complete	16,000 tons
Units completed and transferred out	37,000 tons
Units in process, January 31, 45% complete	20,000 tons

Costs:

Work in process, January 1	$6,225
Costs added during January	$19,075

Determine the cost to be assigned to ending work-in-process (EWIP) using the weighted average method. (Note: Round the unit cost to two decimal places.)

a.$8,984

b.$4,950

c.$3,790

d.$7,565

I know that the answer is B. Could you please show how to arrive to that answer? Any extra explanation would be helpful. Thank you!