Pilot Protectors manufactures pocket knives in three processes and uses the weighted average method of process costing system. In the Forming Department, all materials are added at the start of production. The following unit information is available for March production for the Forming Department:

Beginning Work in Process (20% complete) 2,000

Plus: Units started 34,000

Units to account for 36,000

Less: Ending Work in Process (70% complete) 4,000

Units completed 32,000

The following costs are available for March for the Forming Department:

Material Conversion Cost Total Cost

Beginning Work in Process $ 11,800 $ 22,500 $ 34,300

Current cost 65,600 64,500 130,100

Total cost $77,400 $87,000 $164,400

The equivalent cost per unit was $2.15 for materials and $2.50 for conversion costs. How much is the total cost of the inventory transferred out during the period?

a.

$68,800

b.

$164,400

c.

$148,800

d.

$80,000