Malcom Industries manufactures a silicone paste wax that goes through three processing

departments: cracking, blending, and packing. All raw materials are introduced at the start of

work in the cracking department, with conversion costs being incurred uniformly in each

department. The Work$-$in$-$Process $($WIP$)$ inventory account for the cracking department for

July contains the following information: $5$ points

Work$-$in$-$Process Inventory $($Cracking Department$)$

Balance, July $1(35,000$ pounds, $4/5$ done$)$

Direct materials pounds$)$

$$63,700$

$397,600$

$189,700$

$??$

Conversion costs

Balance, July $31(45,000$ pounds, $2/3$ done$)$

$??$

Costs transferred to Blending Department

$??$

The beginning balance inventory consists of $$43,400$ in materials cost. Malcom uses the first$-$

in$,$ first$-$out $($FIFO$)$ method to account for its operations.

Required:Note: Use $4$ decimal places for computations.

$($a$)$ What would be the Cracking Department's inventory balance on July $31?$

$($b$)$ What would be the cost transferred to the Blending Department in July?