Equivalent Units and Product Cost ReportWeighted Average Method: Summers Manufacturing Corporation produces chemical products using a continual process. Summers uses the weighted average method for process costing. All manufacturing is accomplished in one department. Materials are added at the beginning of the process while conversion costs are incurred evenly throughout the process.

The work in process inventory at the beginning of February 2016 consisted of 10,000 gallons that were 20% complete. The work in process at the end of February consisted of 15,000 gallons that were 40% complete. During February 195,000 gallons were transferred to finished goods.

The beginning inventory contained $90,000 of materials and $30,000 of conversion costs. Product costs incurred during February consisted of $2,010,000 of materials and $3,186,000 of conversion costs.

Required

1. Calculate equivalent units
2. Calculate the cost per equivalent unit
3. Calculate the cost of units transferred out
4. Calculate the cost of the units in ending work-in-process

I have learning how to do this, so could someone please break it down for me?