Walser Inc. produces a product that passes through two processes. During February, equivalent units were calculated using the weighted average method:

Units completed 150,000

Add: Units in EWIP × Fraction complete (50,000 × 40 percent) 20,000

Equivalent units of output (weighted average) 170,000

Less: Units in BWIP × Fraction complete (25,000 × 70 percent) 17,500

Equivalent units of output (FIFO) 152,500

The costs that Walser had to account for during the month of February were as follows:

BWIP $ 105,000

Costs added 993,000

Total $1,098,000

Required:

1. Using the weighted average method, calculate unit cost.

2. Under the weighted average method, what is the total cost of units transferred out? What is the cost assigned to units in ending inventory?