Question: Exam 2 Chapters 4,5.& 6 0 Saved Help Save & Exit 26 Crone Corporation uses the FIFO method in its process costing system. The following

 Exam 2 Chapters 4,5.& 6 0 Saved Help Save & Exit

Exam 2 Chapters 4,5.& 6 0 Saved Help Save & Exit 26 Crone Corporation uses the FIFO method in its process costing system. The following data concern the company's Assembly Department for the month of August. Cost in beginning work in process inventory Units started and completed this month $1,199 2,790 8 00:37:27 Materials $18.20 Conversion $35.00 Cost per equivalent unit Equivalent units required to complete the units in beginning work in process inventory Equivalent units in ending work in process inventory 180 130 160 99 Required: Determine the cost of ending work in process inventory and the cost of units transferred out of the department during August using the FIFO method. (Round final answers to the nearest whole dollar amount.) Total Cost of ending work in process inventory Cost of units completed and transferred out

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