ABC company operates two departments Department B and C. DUring May Department B reported the following.

Work in process May 1 Units 60,000 % complete DM 20% % conversion complete 70%

Units started during may 40,000

Work in process may 31, 20,000 units %complete DM 60% % conversion complete 30%

The cost of beginning work in process and cost added during may were as follows

Work in process may 1 DM $120,000 Conversion $150,000

Cost incurred during May $400,000 Conversion 350,000

The company uses a Weighted average process costing system

CALCULATE THE COST OF GOODS COMPLETED AND TRANSFERRED OUT during May for department B