You received no credit for this question in the previous attempt. 3 Pantanal, Inc., manufactures...
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You received no credit for this question in the previous attempt. 3 Pantanal, Inc., manufactures car seats in a local factory. For costing purposes, it uses a first-in, first-out (FIFO) process costing system. The factory has three departments: Molding, Assembling, and Finishing. Following is information on the beginning work-in- process inventory in the Assembling Department on August 1: Degree of Completion points Costs Work-in-process beginning inventory (10,000 units) Transferred-in from Molding Direct materials costs Conversion costs 03:51:11 99,000 160,400 63,000 100% 60 30 Work-in-process balance (August 1) $322,400 ook During August, 100,000 units were transferred in from the Molding Department at a cost of $2,030,000 and started in Assembling. The Assembling Department incurred other costs of $945,170 in August as follows: Print August Costs $731,460 213,710 Direct materials costs Conversion costs Total August costs $945,170 At the end of August, 19,000 units remained in inventory that were 80 percent complete with respect to direct materials and 60 percent complete with respect to conversion. Required: Compute the cost of goods transferred out in August and the cost of work-in-process ending inventory. (Do not round intermediate calculations.) Cost of goods transferred out $ 2,790,590 507,699 Cost of WIP ending inventory
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