Question

THE Company operates a single processing department and uses a FIFO process costing system. The equivalent...

THE Company operates a single processing department and
uses a FIFO process costing system. The equivalent units
for August were calculated as 88,620 for direct materials
and 73,910 for conversion. THE Company's work in process
at August 1 was:

                                    % complete    % complete
                           units       DM         conversion 
work in process, Aug. 1    36,000      59%           25%

The cost of beginning work in process and the costs added
during August were as follows:

                                 DM           Conversion
work in process, Aug. 1       $ 44,310         $ 36,955
costs incurred during Aug.    $372,204         $243,903

Calculate the total cost of the 36,000 units in the beginning
work in process.
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