Spangenberg Products manufactures computer cases. All material is added at the start of production and overhead is assumed to be incurred at the same rate as labor. Overhead is applied to each product at the rate of 70 percent of direct labor cost. At the beginning of July, there were no units in the Finished Goods Inventory. The firm's inventory cost records provide the following information:

Work in Process Inventory, 7/1

(70% complete as to labor) Units: 100,000 Direct Material Cost:$750,000 Direct Labor Cost: $215,000

Units started in production Units1,500,000

Costs for July Direct Material Cost=$ 5,650,000 Direct Labor Cost=$ 4,105,000

Work in process Inventory, 7/31

(60% complete as to labor) Units=400,000

At the end of July, the cost of Finised Goods Inventory was determined to be $ 124,000.

a. Compute the following

1. Equivalent units of production using the weighted average method.

2. Unit production costs for material, labor, and overhead.

3. Cost of Goods Sold

b. Prepare Journal entries to record the July transfer of Completed goods and the July Cost of Goods Sold.