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the total cost transferred from the first processing department to the next processi 635072

Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:

 

Units in beginning work in process inventory

700

Materials costs

$11,500

Conversion costs

$22,200

Percentage complete with respect to materials

75%

Percentage complete with respect to conversion

65%

Units started into production during the month

8,600

Materials costs added during the month

7,800

Conversion costs added during the month .

$159,300

Ending work in process inventory:

 

Units in ending work in process inventory

1,500

Percentage complete with respect to materials

65%

Percentage complete with respect to conversion

50%

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. The total cost transferred from the first processing department to the next processing department during the month is closest to:

A) $490,382

B) $579,948

C) $507,800

D) $541,500

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