The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak...

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $0.60 and $1.20, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials	Conversion
Inventory in process, July 1	0	5,100
Started and completed during July	64,000	64,000
Transferred out of Rolling (completed)	64,000	69,100
Inventory in process, July 31	4,000	1,200
Total units to be assigned costs	68,000	70,300

The beginning work in process inventory on July 1 had a cost of $3,210. 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, ending	$
Total costs assigned by the Rolling Department	$

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Expert Solution

ekkarill92 answered 1 year ago

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