Weighted Average Method, Unit Cost, Valuing Inventories

Manzer Enterprises produces premier raspberry jam. Output is measured in pints. Manzer uses the weighted average method. During January, Manzer had the following production data:

Units in process, January 1, 60% complete	36,000 pints
Units completed and transferred out	232,000 pints
Units in process, January 31, 40% complete	76,000 pints
Costs:
Work in process, January 1	$54,000
Costs added during January	344,000

Required:

1. Using the weighted average method, calculate the equivalent units for January. ______equivalents units

2. Calculate the unit cost for January. Round your answer to the nearest cent. $_______per unit

3. Assign costs to units transferred out and EWIP. Do not round the unit cost in intermediate calculations. If required, round your final answers to the nearest cent.

Cost of goods transferred out	$
EWIP	$

Please answer all of the questions.