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The Gasson Company uses the weighted-average method in its process costing system. The company's ending work-in-process inventory consists of 15,000 units, The ending work-in-process inventory is 100% complete with respect to materials and 80% complete with respect to labor and overhead. If the costs per equivalent unit for the period are $4.40 for the materials and $1.60 for labor and overhead, what is the balance of the ending work-in-process inventory account would be: a. $85,200 b. $90,000 c. $76,700 d. $65,500

The Gasson Company uses the weighted-average method in its process costing system. The company's ending work-in-process inventory consists of 15,000 units, The ending work-in-process inventory is 100% complete with respect to materials and 80% complete with respect to labor and overhead. If the costs per equivalent unit for the period are $4.40 for the materials and $1.60 for labor and overhead, what is the balance of the ending work-in-process inventory account would be: a. $85,200 b. $90,000 c. $76,700 d. $65,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Gasson Company uses the weighted-average method in its process costing system. The company's ending work-in-process inventory consists of 15,000 units, The ending work-in-process inventory is 100% complete with respect to materials and 80% complete with respect to labor and overhead. If the costs per equivalent unit for the period are $4.40 for the materials and $1.60 for labor and overhead, what is the balance of the ending work-in-process inventory account would be: a. $85,200 b. $90,000 c. $76,700 d. $65,500

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