Buckner Enterprises produces premier strawberry jam. Output is measured in pints. Bucker uses the weighted average method. During January, the company had the following production data:

Units in process, January 1, 60 percent complete 12,000 pints

Units completed and transferred out 80,000 pints

Units in process, January 31, 40 percent complete 25,000 pints

Costs:

Work in process, January 1 $ 18,000

Costs added during January 117,000

Required:

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

2. Calculate the unit cost for January.

3. Assign costs to units transferred out and EWIP.