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 $0.80 and $0.45, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials		Conversion
Inventory in process, July 1	0		4,900
Started and completed during July	61,000		61,000
Transferred out of Rolling (completed)	61,000		65,900
Inventory in process, July 31	4,000		2,400
Total units to be assigned costs	65,000		68,300

The beginning work in process inventory on July 1 had a cost of $3,140. 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	$