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Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first...

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Accounting

Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory 1,150
Materials costs $ 12,400
Conversion costs $ 22,650
Percent complete with respect to materials 75 %
Percent complete with respect to conversion 65 %
Units started into production during the month 9,500
Units transferred to the next department during the month 8,700
Materials costs added during the month $ 168,300
Conversion costs added during the month $ 357,500
Ending work in process inventory:
Units in ending work in process inventory 1,950
Percent complete with respect to materials 65 %
Percent complete with respect to conversion 50 %

The total cost transferred from the first processing department to the next processing department during the month is closest to: (Round equivalent units to the nearest whole number and round all other intermediate calculations to 3 decimal places.)

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