Reference no: EM13606851

Pantanal, Inc., manufactures car seats in a local factory. For costing purposes, it uses a first-in, first-out (FIFO) process costing system. The factory has three departments: Molding, Assembling, and Finishing. Following is information on the beginning work-in-process inventory in the Assembling Department on August 1: Costs Degree of Completion Work-in-process beginning inventory (11,000 units) Transferred-in from Molding $ 99,000 100 % Direct materials costs 168,200 60 Conversion costs 59,000 40 Work-in-process balance (August 1) $ 326,200 During August, 100,000 units were transferred in from the Molding Department at a cost of $2,070,000 and started in Assembling. The Assembling Department incurred other costs of $925,920 in August as follows: August Costs Direct materials costs $ 743,140 Conversion costs 182,780 Total August costs $ 925,920 At the end of August, 13,000 units remained in inventory that were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion.

Required: Compute the cost of goods transferred out in August and the cost of work-in-process ending inventory. (Round the unit costs for prior department costs, materials, and conversion to 2 decimals and the final answers to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your response.) Cost of goods transferred out $ Cost of WIP ending inventory $