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The Kim Company is a furniture manufacturer with two departments: molding and finishing. The company uses the weighted-average method of process costing. In August, the

The Kim Company is a furniture manufacturer with two departments: molding and finishing. The company uses the weighted-average method of process costing. In August, the following data were recorded for the finishing department:

Units of beginning work in process inventory 12,500

Units transfered in during August 87,500

Units completed 62,500

Transferred-in costs in beginning WIP $103,625

Cost of units transferred in during current period $809,375

There were no spoiled or lost units. The firm had completed 24% of the work for the units in ending WIP.

Required: Compute the transferred-in costs contained in the cost of goods manufactured in August.

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