Power Potables brews a special low-calorie craft beer that requires processing in six different departments. The first two departments are malting and mashing. In the malting department, the barley grain is prepared for brewing by going through a soaking and drying process. The malt from the malting department is then transferred to the mashing department, where the starch from the malt is converted into sugars that can be fermented in a later process. Conversion costs are assumed to be added continuously throughout all departments.

Summary data for malting department (October 2020)

Direct materials, added at the beginning of the process 160,000 kg

Direct materials cost $ 185,000

Conversion costs incurred during October $ 80,000

Work-in-process, Oct. 1: 2,000 kg, 90% complete:

Direct materials cost $ 1,400

Conversion cost $ 600

Work-in-process, Oct. 31: 3,000 kg, 50% complete.

Required:

Calculate the cost of goods transferred out of the malting department to the mashing department during October and the cost of the malting department work-in-process inventory at Oct. 31,

1. assume that Power uses the weighted average approach
2. assume that Power uses the first in, first out (FIFO) approach.

(Round all unit costs to four decimals.)