The Cookie Shop uses three departments to produce scones in its Mixing, Cooking, and Finishing Departments. The Finishing Department is the third and last step before the Cookies are sold. For the Finishing Department, all materials needed to complete the Cookies are added at the beginning of the process in the Finishing Department. The company uses FIFO costing.

The following data relates to the finishing department for October.

Production data:

Cookies in process, October 1 (conversion, 75% complete) 10,000 cookies

Cookies transferred in from the cooking department 40,000 cookies

Cookies completed and sold 35,000 cookies

Cookies in process, October 21 (conversion, 50% complete) 15,000 cookies

Additional data:

Costs for work-in-process inventory, October 1: (Beginning WIP)

Cost transferred in from the cooking Department: $38,000

Cost incurred in the Finishing Department:

Material $21,500

Conversion $80,900

Costs incurred during October (Costs added):

Costs transferred in from the Cooking Department: $140,000

Cost added in the Finishing Department:

Material $70,000

Conversion $292,500

2. For October, use the Weighted Average Method to:

1. Determine the equivalent units
2. Compute the cost per equivalent unit
3. Determine the total cost of ending work-in-process inventory
4. Determine the total cost of scones complete and transferred out.