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 $1.70 and $2.75, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials	Conversion
Inventory in process, July 1	0		3,600
Started and completed during July	52,000		52,000
Transferred out of Rolling (completed)	52,000		55,600
Inventory in process, July 31	3,000		1,800
Total units to be assigned costs	55,000		57,400

The beginning work in process inventory on July 1 had a cost of $2,050. 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, ending	$fill in the blank 2
Total costs assigned by the Rolling Department	$fill in the blank 3