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Lights Incorporated calculates cost for an equivalent unit of production using the weighted - average method. Data for July: Work - in - process inventory,

Lights Incorporated calculates cost for an equivalent unit of production using the weighted-average method.
Data for July:
Work-in-process inventory, July 1(38,000 units):
Direct materials (96% completed) $ 122,600
Conversion (54% completed)77,050
Balance in work in process inventory, July 1 $ 199,650
Units started during July 92,000
Units completed and transferred 105,600
Work-in-process inventory, July 31:
Direct materials (96% completed)24,400
Conversion (54% completed)
Cost incurred during July:
Direct materials $ 182,000
Conversion costs 290,000
The cost of goods completed and transferred out under the weighted-average method is calculated to be: (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.)
Multiple Choice
$585,780.
$96,656.
$585,590.
$575,520.
$612,610.

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