Problem:
Clauss Company transfers out 14,000 units and has 2,000 units of ending work in process that are 25% complete. Materials are entered at the beginning of the process and there is no beginning work in process.
Required:
Question: Assuming unit materials costs of $3 and unit conversion costs of $5, what are the costs to be assigned to units transferred out and in ending work in process?
Note: Please provide full description.