The costs per equivalent unit of direct materials and conversion in the Rolling Department of Keystone Steel Company are $ 60 and $ 10, respectively. The equivalent units to be assigned costs are as follows:

The beginning work in process inventory had a cost of $ 25,000. Determine the cost of completed and transferred-out production and the ending work in processinventory.

Equival ent Units Direct Materials Conversion Inventory in process, beginning of period Started and completed during the period Transferred out of Rolling (completed) Inventory in process, end of period Total units to be assigned costs 7,500 7,500 1,000 320 7,500 7,820 300 8,120