Trillion 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 workin-process.

\begin{tabular}{lcccc} Finishing Department & Physicalunits & Transferred-inCosts & Directmaterials & ConversionCosts \\ \hline Work-in-process, July 1* & 43,200 & $64,800 & $0 & $51,840 \\ Transferred-in during July & 106,400 & & & \\ Good units completed and transferred out & 86,400 & & & \\ Work-in-process, July 31^ & 57,600 & & & \end{tabular} Total costs added during July $144,640$396,440$200,880 * Degree of completion: transferred-in 100%; direct materials, 0%; conversion costs, 60% ^ Degree of completion: transferred-in 100%; direct materials, 100%; conversion costs, 85%