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 $1.85 and $1.75, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials		Conversion
Inventory in process, October 1	0		4,800
Started and completed during October	60,000		60,000
Transferred out of Rolling (completed)	60,000		64,800
Inventory in process, October 31	7,000		3,500
Total units to be assigned costs	67,000		68,300

The beginning work in process inventory on October 1 had a cost of $3,410. 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 $1.85 and $1.75, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 4,800 Started and completed during October 60,000 60,000 Transferred out of Rolling (completed) 60,000 64,800 Inventory in process, October 31 7,000 3,500 Total units to be assigned costs 67,000 68,300 The beginning work in process inventory on October 1 had a cost of $3,410. 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 III Total costs assigned by the Rolling Department $