Nguyen Enterprises produces premium strawberry jam. Output is measured in litres. Nguyen uses the weighted average method. During January, the company had the following production data:

Units in process, January 1, 60 percent complete.....................10,000 litres

Units completed and transferred out...................................75,000 litres

Units in process, January 31, 40 percent complete...................20,000 litres

Costs:

Work in process, January 1..................................................$ 44,000

Costs added during January.................................................122,000

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.