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 $0.50 and $2.10, respectively. The equivalent units to be assigned costs are as follows:

Equivalent Units

Direct Materials Conversion

Inventory in process, July 1 0 4,000

Started and completed during July 50,000 50,000

Transferred out of Rolling (completed) 50,000 54,000

Inventory in process, July 31 3,000 1,200

Total units to be assigned costs 53,000 55,200

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.

a) completed and transferred out production $ ?

b) inventory in process, ending $ ?

c) total costs assigned by the Rolling Department. $ ?

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 $0.50 and $2.10, respectively. The equivalent units to be assigned costs are as follows: 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. 1 ] Feedback Check My Work The assumption would be that units that had been in beginning work in process would have been the first units completed in the department. How much cost is associated with those beginning work in process units? How many units were both started and completed during the period? How much cost is associated with the started and completed units? How many units were started in the period but are still in work in process? How much cost is associated with these ending work in process units