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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 (10,000 units)
Transferred-in from Molding $ 93,000 100 %
Direct materials costs 165,800 60
Conversion costs 61,000 40
Work-in-process balance (August 1) $ 319,800

During August, 103,000 units were transferred in from the Molding Department at a cost of $2,090,900 and started in Assembling. The Assembling Department incurred other costs of $1,027,850 in August as follows:

August Costs
Direct materials costs $ 790,500
Conversion costs 237,350
Total August costs $ 1,027,850

At the end of August, 16,000 units remained in inventory that were 90 percent complete with respect to direct materials and 50 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.(Round intermediate calculations to 2 decimal places.)

Please show work. Thanks

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