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 $2.50 and $1.55, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 2,700 Started and completed during October 39,000 39,000 Transferred out of Rolling (completed) 39,000 41,700 Inventory in process, October 31 4,000 1,600 Total units to be assigned costs 43,000 43,300 The beginning work in process inventory on October 1 had a cost of $1,920. 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 $fill in the blank 1 Inventory in process, October 31 $fill in the blank 2 Total costs assigned by the Rolling Department $fill in the blank 3

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 $2.50 and $1.55, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $1,920. 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 $ 0 Conversion 39,000 39,000 4,000 43,000 2,700 39,000 41,700 1,600 43,300