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 $1.10 and $0.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 4,300 Started and completed during July 61,000 61,000 Transferred out of Rolling (completed) 61,000 65,300 Inventory in process, July 31 5,000 3,000 Total units to be assigned costs 66,000 68,300 The beginning work in process inventory on July 1 had a cost of $2,710. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned b