Lazy Chair company manufactures a standard recliner. During February, the firm's assembly department started production of 73,900 chairs. During the month, the firm completed 78,400 chairs, and transferred them to the Finishing Department. The Firm ended the month with 11,200 chairs ending inventory. There were 15,700 in beginning inventory. All Direct material costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Comfort. Beginning WIP was 25% complete as to conversion costs, while ending WIP was 70% complete as to conversion costs

Beginning inventory

Direct Materials . $24,400

Conversion Costs $35,900

Manufacturing costs added during the accounting period

Direct Materials . $169,000

Conversion Costs . $278,000

What is the cost of goods transferred out during February?