Polson Enterprises produces strawberry gelato. Output is measured in quarts. Polson uses the weighted average method. During July, Polson had the following production data:

Units in process, July 1, 60% complete.............................54,000 quarts

Units completed and transferred out..............................360,000 quarts

Units in process, July 31, 40% complete..........................112,500 quarts

Costs:

Work in process, July 1....................................................$ 81,000

Costs added during July....................................................526,500

Required:

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

2. Calculate the unit cost for July.

3. Assign costs to units transferred out and EWIP.