Mullins Corporation uses the FIFO method in its process costing system Data concerning the first processing department for the most recent month are listed below Beginning work in process inventory Units in beginning work in process inventory 1150 Materials costs $ 12,400 Conversion costs $ 22,650 Percent complete with respect to materials 75 Percent complete with respect to conversion 65 Units started into production during the month 9500 Units transferred to the next department during the month 8700 Materials costs added during the month $ 168,300 Conversion costs added during the month $ 357,500 Ending work in process inventory Units in ending work in process inventory 1950 Percent complete with respect to materials 65 Percent complete with respect to conversion 50 The cost of a completed unit transferred out of the department is closest to (Round equivalent units to the nearest whole number and round all other intermediate calculations to 2 decimal places )

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Question: Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:


Beginning work in process inventory:
Units in beginning work in process inventory		1150?
Materials costs	$	12,400?
Conversion costs	$	22,650?
Percent complete with respect to materials		75?	%
Percent complete with respect to conversion		65?	%
Units started into production during the month		9500?
Units transferred to the next department during the month		8700?
Materials costs added during the month	$	168,300?
Conversion costs added during the month	$	357,500?
Ending work in process inventory:
Units in ending work in process inventory		1950?
Percent complete with respect to materials		65?	%
Percent complete with respect to conversion		50?	%

The cost of a completed unit transferred out of the department is closest to: (Round equivalent units to the nearest whole number and round all other intermediate calculations to 2 decimal places.)

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