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 $0.45 and $0.40, respectively. The equivalent units to be assigned costs are as follows: 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 Equivalent Units Direct Materials Conversion 0 4,000 66,000 66,000 66,000 70,000 3,000 1,200 69,000 71,200 The beginning work in process inventory on July 1 had a cost of $2,800. 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 $ +A