Process-costing report, beginning inventory, two cost pools (LO1, LO2). Mahaska Chemicals makes a patented fertilizer in its Naperville, Illinois plant. The production process begins by mixing all of the required materials. In a series of steps, the mixed slurry is converted to a finished fertilizer that is bagged and sold. Mahaska incurs conversion costs uniformly throughout the process. Mahaska began January with 95,000 pounds of fertilizer in process, valued at $319,200. This value equals $285,000 for materials plus $34,200 for conversion costs. Mahaska started an additional 600,000 pounds into production in early January and had a total of 55,000 pounds still in process on January 31. The ending WIP inventory was estimated to be 25% complete with respect to conversion costs. Finally, Mahaska spent $1,869,500 on materials and $1,077,175 on conversion costs during January.

Required: a. Compute the quantity of fertilizer completed during January. b. Compute the number of equivalent units for pounds finished during January and for pounds still in process at the end of January. Be sure to perform the exercise separately for materials and for conversion costs. c. Compute the total costs that must be accounted for. d. Determine the cost per equivalent pound for materials and for conversion costs. e. Determine the cost of the fertilizer finished during January and the cost of the WIP inventory on January 31.