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3.63 points Pantanal, Inc.. manufactures car seats in a local factory. For costng purposcs, it uses a first-in, first-out FIFO) proccess costing system. The factory
3.63 points Pantanal, Inc.. manufactures car seats in a local factory. For costng purposcs, it uses a first-in, first-out FIFO) proccess costing system. The factory has three departments. Mclding, ASscmbling, and Finishing. Fcllowing is information on the beginning work-in-process inverntory in the Assembling Department on August1 Degree af Custs Compelioen Work in pracess begnning inventary( CO0 units) 100% Transtered in from Molding Direct matenals cosis Conversion costs 5 102,000 157 800 65.00030 Work-in-process balance iAugust 1) 5 324,500 DAugust, 99,000 urits were lrarislerred in from he Molding Deparrrienl al a cost of 1,930,500 ard slarled in Asserbing. TheAssenblig Deprlieri incurred oher cusls of S999,600 i Augusl as follows. S759990 239 B10 Total August costs $999600 At the end of August, 15,000 units remained in inventory that were 80 percent complete with respect to direct materials and 50 percent complete with respect to conversion. Required: Compute the cost of goods transferred out in August and the cost of wark-in-process ending inventory (Do not round intermedlate calculatlons.) Coet ef goods transterred out Cost of WP cndirg inventory
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