Red Dog Products manufactures toys for dogs and cats. The most popular toy is a small ball that dispenses tiny treats and is placed within a larger ball. To get the treats, dogs must roll the balls around until the treats fall out. These balls are mass-produced from plastic.
Direct materials are introduced at the beginning of the process, and conversion costs are incurred evenly throughout the manufacturing process. Once each unit is completed, it is transferred to finished goods. Data for the month of March are as follows:
Beginning WIP (30% complete):
Direct material ..... $25,000
Conversion costs ..... 3,000
Total ......... $28,000

Units started during March ........... 80,000 units
Units completed and transferred out during March ... 88,000 units
Ending WIP inventory (50% complete) ...... 12,000 units
Direct material cost added during March ........ $220,000
Conversion costs added during March ........ $74,000

REQUIRED
Prepare a process cost report using the weighted average method.