The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.60 and $0.10, respectively.The equivalent units to be assigned costs are as follows.
|
Direct Materials |
Conversion |
| Inventory in process, beginning of period |
0 |
2,500 |
| Started and completed during the period |
50,780 |
50,780 |
| Transferred out of Bottling (completed) |
50,780 |
53,280 |
| Inventory in process, end of period |
3,060 |
2,200 |
| Total units to be assigned costs |
53,840 |
55,480 |
The beginning work in process inventory had a cost of $3,620. Determine the cost of completed and transferred out production and the ending work in process inventory.
| Cost of inventory transferred |
|
| Ending Inventory |