3. Edney Corporation produces a product that passes through two departments. For October, the following equivalent unit schedule was prepared for the first department (materials are only added at the beginning of the process):

Materials Conversion

Units completed 125,000 125,000
Units ending WIP x fraction complete:
      Materials (12,000 x 100 percent) 12,000
      Conversion (12,000 x 20 percent) 2,400

Equivalent units in process 137,000 127,400

Costs assigned to beginning work-in-process:
Materials $78,440
Conversion   31,728
Manufacturing costs incurred during the month:
Materials $75,000
Conversion   60,000

Required:

a. Compute the unit costs for January using the weighted average method.

b. Determine the cost of goods transferred out.

c.    Determine the cost of ending work-in-process.

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