The Smelting Department of Lily Company has the following production and cost data for September. Production: Beginning work in process 2,400 units that are 100% complete as to materials and 20% complete as to conversion costs; units started and finished 8,000 units; and ending work in process 1,100 units that are 100% complete as to materials and 40% complete as to conversion costs. Manufacturing costs: Work in process, September 1, $16,000; materials added $60,970; labor and overhead $129,500. Lily uses the FIFO method to compute equivalent units.

Question:

Determine the costs to be assigned to the units transferred out and in process. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.)

Transferred out		$
Work in process

Step by step process is much needed and appreciated.