Transferred-in costs, standard costing method. (5-40 minutes)

Refer to the information in Exercise 4-16. Suppose Telemark-Kjemi determines standard costs of NKr 1,050 per (equivalent) tonne of transferredin costs, NKr 390 per (equivalent) tonne of direct materials and NKr 640 per (equivalent) tonne of conversion costs for both beginning work in progress and work done in the current period.

REQUIRED Do Exercise 4-16 using the standard costing method.