Iowa Company uses a process costing system. Operating data for the first processing department for the month of June appear below:

	Units			Percent Complete with Respect to Conversion
Beginning work-in-process inventory		12,000				60%
Started into production during June		80,000
Ending work-in-process inventory		18,000				40	%

According to the company's records, the conversion cost in beginning work-in-process inventory was $44,530 at the beginning of June. Additional conversion costs of $832,150 were incurred in the department during the month.

1. How many units are transferred out?

2. If Iowa uses the weighted-average method, what are the equivalent units of conversion for the month?

If Iowa uses the weighted-average method, what is the cost per equivalent units of conversion for the month?

3. If Iowa uses the FIFO method, what are the equivalent units of conversion for the month?

If Iowa uses the FIFO method, what is the cost per equivalent units of conversion for the month?