Rey Inc. manufactures paint at a local production facility. The company has two production departments, mixing and finishing. The company uses the weighted average method of process costing. In July, the following data were recorded for the finishing department:

Conversion costs are added evenly during the production process. Direct materials are added when production is 80% complete. The inspection point is at the 90% stage of production. Normal spoilage is 5% of all goods that pass inspection. Spoiled units are disposed of at zero net disposal value.

Required:

For July, summarize the total costs to account for, compute the cost per equivalent unit for transferred-in, direct materials, and conversion costs, and assign costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work- in-process.

Finishing Department Work-in-process, July 1* Transferred-in during July Good units completed and transferred out Physical Transferred- Direct Conversion units in Costs materials $0 Costs $49,572 10,800 $49,680 26,600 21,600 14,400 Work-in-process, July 31^ Total costs added during July $118,620 * Degree of completion: direct materials, 0%; conversion costs, 60% ^ Degree of completion: direct materials, 100%; conversion costs, 85% $246,840 $231,228