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Conversion 1,500 Cost of Units Transferred Out and Ending Work In Process The costs per...

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Conversion 1,500 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 $2.25 and $0.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Inventory in process, October 1 0 Started and completed during October 37,000 37,000 Transferred out of Rolling completed) 37,000 38,500 Inventory in process, October 31 5,000 2,500 Total units to be assigned costs 42,000 41,000 The beginning work in process inventory on October 1 had a cost of $1,020. Determine the cost of completed and transferred-out production, the ending work in process invertory, and the total costs assigned by the Rolling Department Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department

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