Question:

$(12$ marks$)$

Assembly Department has gathered the following information

Units of beginning work in process on $1$ January $2023-12000$

Units started in January $2023-48,000$

Units $of$ closing work $in$ process $on31$ January $2023-10,000$

Percentage of completion of conversion costs of ending work in process: $20\%$

Cost of opening work$-$in$-$process:

Direct materials $(100\%$ complete$)-40,000$

Conversion cost $($partially complete$)-20,000$

Costs incurred in the month of January:

Direct materials.... $200,000$

Conversion costs $84,000$

Required:

Determine the total cost of

$($a$)$ units completed and transferred out in January $2023,$ and

$($b$)10,000$ units of closing work in process on $31$ January $2023.$

$(12$ marks$)$