Cost of Units Transferred Out and Ending Work in Process

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.80 and $2.70, respectively. The equivalent units to be assigned costs are as follows:

Equivalent Units

Direct MaterialsConversion

Inventory in process, October 10 2,900

Started and completed during October48,000 48,000

Transferred out of Rolling (completed)48,000 50,900

Inventory in process, October 316,000 3,600

Total units to be assigned costs54,000 54,500

The beginning work in process inventory on October 1 had a cost of $1,650. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department.

Completed and transferred-out production$

Inventory in process, October 31$

Total costs assigned by the Rolling Department$