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 Oak Ridge Steel Company are $1.15 and $1.00, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 4,700 67,000 67,000 Started and completed during July Transferred out of Rolling (completed) Inventory in process, July 31 67,000 71,700 5,000 1,500 Total units to be assigned costs 72,000 73,200 he beginning work in process inventory on July 1 had a cost of $2,590. 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, ending IN Total costs assigned by the Rolling Department