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 Keystone Steel Company are $60 and $10, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials		Conversion
Inventory in process, beginning of period	0		320
Started and completed during the period	7,500		7,500
Transferred out of Rolling (completed)	7,500		7,820
Inventory in process, end of period	1,000		300
Total units to be assigned costs	8,500		8,120

The beginning work in process inventory had a cost of $25,000. Determine the cost of completed and transferred-out production and the ending work in process inventory.

Completed and transferred-out production	$
Inventory in process, ending	$