Shinra Inc. has two main processes, forging and packaging. Material is introduced at the start of both processes and conversion costs are applied uniformly throughout. Data for March are as follows: Opening work in process Units started during the period Closing work in process Materials costs incurred during the period Conversion costs incurred during the period Forging 6,000 units that are 40% converted, comprising materials $62,000 and conversion cost $53,000 16,000 4,000 units that are 50% complete $160,000 $195,000 Packaging 2,000 units that are 60% converted, comprising materials $38,000 and conversion cost $44,000 18,000 8,000 units that are 60% complete $50,400 $68,640 Required: Using the first-in first-out (FIFO) method, calculate the following for the packaging process: 1. The cost per equivalent unit. (12 marks) 2. The cost of goods completed and transferred out of the packaging department during March. (7 marks) 3. The cost of the 31 March work in process inventory in the packaging department. (5 marks)