Mullins Corporation uses the first-in, first-out 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 Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion 1,200 $ 12,500 $ 22,700 75% 65% Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 9,600 8,800 $ 169,300 $ 358,500 2,000 65% 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.) Multiple Choice $58.15 $71.58 $61.41 $53.54