Question - Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below:
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Materials
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Conversion
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Equivalent units of production in ending work in process
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500
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140
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Cost per equivalent unit
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$31.64
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$9.15
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A total of 1,500 units were completed and transferred to the next processing department during the period.
Required: Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory.