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 $$750$ and $$120,$ respectively. The equivalent units to be assigned costs are as follows:

$\backslash$table$[[,$Equivalent Units$],[,$Direct Materials,Conversion$],[$Inventory in process, October $1,0,80],[$Started and completed during October,$3,700,3,700],[$Transferred out of Rolling $($completed$),3,700,3,780],[$Inventory in process, October $31,300,75],[$Total units to be assigned costs,$4,000,3,855]]$

The beginning work in process inventory on October $1$ had a cost of $$163,800.$ 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, October $31$

Total costs assigned by the Rolling Department

Figedback