Corporation uses a process costing system based on the weighted average method. The production supervisor calculate that the equivalent units of the physical units in ending inventory with respect to direct materials and conversion resources are 600 and 550 units respectively. Assume that the equivalent units of the physical units completed and transferred with respect to direct materials and conversion resources are 3,500 and 3,500 units respectively. If the per equivalent unit cost of direct materials and conversion resources is $1.5 and $2 respectively,

(1) what is the cost of the units completed and transferred (i.e., the cost of goods manufactured)

(2) what is the cost of the units in the ending inventory

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