Wilbus Inc manufactures bottled water, and uses process costing. Wilbus adds direct materials at the beginning of the process, while conversion costs are incurred uniformly throughout the process. At the beginning of the period, Work in Process Inventory is 40% complete. At the end of the period, Work in Process Inventory is 70% complete. Additional information appears below: Beginning work in process: 3,000 units Direct materials $ 18,000 Conversion cost (40% complete) $ 14,000 Number of units started this period 4,000 Number of units completed and transferred to finished goods 2,000 Ending work in process (70% complete for CC) Current period costs: Direct materials $ 122,000 Conversion cost $ 306,000 (T of F) The total amount of materials cost transferred out is $116,364. True False