Transcribed Image Text: Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials

Excerpt
1 had a cost of $2,460. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, Oct per Total costs assigned by the Rolling Department

Transcribed Image Text: Cost of Units Transferred Out and Ending Work in Process
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.75 and $1.75, respectively. The equivalent units to be
assigned costs are as follows:
Equivalent Units
Direct Materials
Conversion
Inventory in process, October 1
3,900
Started and completed during October
65,000
65,000
Transferred out of Rolling (completed)
65,000
68,900
Inventory in process, October 31
7,000
2,800
Total units to be assigned costs
72,000
71,700
The beginning work in process inventory on October 1 had a cost of $2,460. Determine the cost of completed and transferred-out production, the ending work in process inventory,
and the total costs assigned by the Rolling Department.
Completed and transferred-out production
Inventory in process, Oct
per
Total costs assigned by the Rolling Department

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