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Pantanal, Inc., manufactures car seats in a local factory. For costing purposes, it uses a first-in, first-out (FIFO) process costing system. The factory has three

Pantanal, Inc., manufactures car seats in a local factory. For costing purposes, it uses a first-in, first-out (FIFO) process costing system. The factory has three departments: Molding, Assembling, and Finishing. Following is information on the beginning work-in-process inventory in the Assembling Department on August 1:

Costs Degree of Completion
Work-in-process beginning inventory (8,000 units)
Transferred-in from Molding $ 99,000 100 %
Direct materials costs 171,200 60
Conversion costs 63,000 30
Work-in-process balance (August 1) $ 333,200

During August, 100,000 units were transferred in from the Molding Department at a cost of $2,010,000 and started in Assembling. The Assembling Department incurred other costs of $958,320 in August as follows:

August Costs
Direct materials costs $ 833,320
Conversion costs 125,000
Total August costs $ 958,320

At the end of August, 14,000 units remained in inventory that were 80 percent complete with respect to direct materials and 60 percent complete with respect to conversion.

Required:

Compute the cost of goods transferred out in August and the cost of work-in-process ending inventory. (Do not round intermediate calculations.)

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