The costs per equivalent unit of direct materials and conversion in the Rolling Department of Blackrock Steel Company are $45 and $12, respectively. The equivalent units to be assigned costs are as follows:

The beginning work in process inventory had a cost of $38,020. Determine the cost of completed and transferred-out production and the ending work in process inventory.

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Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 640 Started and completed during the period 11,900 11,900 Transferred out of Rolling (completed) 11,900 12,540 Inventory in process, end of period 2,000 600 Total units to be assigned costs 13,900 13,140