Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 73,000 chairs. During the month, the firm completed 78,600 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,100 chairs in ending inventory. There were 15,700 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Comfort. Beginning work in process was 35% complete as to conversion costs, while ending work in process was 85% complete as to conversion costs. Direct materials $24,000
Conversion costs $35,000

Manufacturing costs added during the accounting period:

Direct materials $168,000
Conversion costs $278,000

1. What were the equivalent units for conversion costs during February?

a. 81,500
b. 83,000
c. 73,000
d. 77,500

2. What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of February?

a. $19,000
b. $23,000
c. $25,000
d. $27,000

3. What is the cost of the goods transferred out during February?

a. $417,750.5
b. $454,694.8
c. $476,750.6
d. $505,000.2