Exercise $6-37($Algo$)$ Process Costing $($LO $6-1)$

Gullen Partners produces cleaning solvents. On September $1,$ it had no work$-$in$-$process inventory. It started production of $59,600$

gallons of solvent in September and completed production of $50,600$ gallons. Cost records at Gullen show the following for

September.

Materials

$$47,660$

Conversion costs $($labor and overhead$)$

$154,588$

Required:

The production supervisor estimates that the ending work in process is $62$ percent complete on September $30.$ Compute the cost of

solvent completed and the cost of the solvent in work$-$in$-$process ending inventory as of September $30.$

Note: Do not round intermediate calculations.

Cost of solvent completed

Work$-$in$-$process ending inventory