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Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products....

Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company's first production process September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process.

Work in process inventory, September 1 (1,500 units, 100% complete with respect to
direct materials, 70% complete with respect to conversion; consists of
$45,800 of direct materials cost, $84,695 conversion cost

$

130,495

Costs incurred in September

Direct materials

$

420,000

Conversion

$

360,000

Work in process inventory, September 30 (6,500 units, 100% complete with respect to direct
materials, 30% complete with respect to conversion)

?

Units started in September

32,500

Units completed and transferred out

27,500


Required:
Compute each of the following using the weighted-average method of process costing.

5. The total cost of goods transferred out.
6. The total cost of ending work in process inventory.

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