Snow Company uses the FIFO method in its process costing system. The following data were taken from the accounting records of a particular department for last month:

Beginning work in process inventory: (10,000 units; materials 100% complete, conversion 60% complete).........

$17,500

Units completed and transferred out during the month............

60,000 units

Cost per equivalent unit:

Material..................................................................................

$2.50

Conversion.............................................................................

$2.00

The cost of units transferred out of the department during the month is: