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 $1.60 and $1.85, respectively. The equivalent units to be assigned costsa as follows Equivalent Units Direct Materials Conversion 3,400 49,000 52,400 3,000 55,400 Inventory in process, July 1 Started and completed during July Transferred out of Rolling (completed) Inventory in process, July 31 Total units to be assigned costs The beginning work in process inventory on July 1 had a cost of $2,210. 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 Total costs assigned by the Rolling Department 0 49,000 49,000 6,000 55,000