weighted average

A company uses a process cost accounting system and the weighted-average method. The following info is available for its current year:

Goods in process, Jan 1 2008….5,500 units, 80% complete

Goods in process, Dec 31, 2008…..8,800 units, 40% complete

Units completed and transferred to finished goods……46,900 units

Manufacturing costs durring the year…..$266,300

a) calculate the equivalent units of production for the year.

b) calculate teh average cost per equivalent unit (nearest penny)

Show and explain work.

Thank you

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