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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit...

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Accounting

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 $0.25 and $2.35, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department Equivalent Units Direct Materials 3,500 70,000 70,000 70,000 73,500 6,000 2,400 76,000 75,900 The beginning work in process inventory on October 1 had a cost of $1,930. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. $ Conversion 0

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