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Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 1,100
Materials costs $ 12,300
Conversion costs $ 22,600
Percent complete with respect to materials 75 %
Percent complete with respect to conversion 65 %
Units started into production during the month 9,400
Units transferred to the next department during the month 8,600
Materials costs added during the month $ 167,300
Conversion costs added during the month $ 356,500
Ending work in process inventory:
Units in ending work in process inventory 1,900
Percent complete with respect to materials 65 %
Percent complete with respect to conversion 50 %

The cost of a completed unit transferred out of the department is closest to: (Round equivalent units to the nearest whole number and round all other intermediate calculations to 2 decimal places.)

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