Cheese Heads Cheddar utilizes a process costing system. The beginning Work in Process Inventory in the Cutting Department consisted of 16,000 units which were 100% complete with respect to materials and 20% complete with respect to conversion costs. The ending Work in Process Inventory consisted of 12,000 units which were 100% complete with respect to materials and 50% complete with respect to conversion costs. The total cost in beginning inventory was $65,000 with an additional $270,400 added during the period. During the month, 62,000 units were transferred out to the next department. The equivalent cost per unit was $1.50 for materials and $3.30 for conversion costs. How much is the total cost of the inventory transferred out during the period? O $93,000 O $297,600 $389,000 $224,400