Cost of Units Transferred Out and Ending Work in Process

The The rate used to allocate costs between completed and partially completed production.costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $180 and $62, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials		Conversion
Inventory in process, July 1	0		225
Started and completed during July	1,900		1,900
Transferred out of Rolling (completed)	1,900		2,125
Inventory in process, July 31	500		200
Total units to be assigned costs	2,400		2,325

The beginning work in process inventory on July 1 had a cost of $80,000. 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, ending	?
Total costs assigned by the Rolling Department	?