Chapter 4, Problem 14E

The Hidalgo Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 18,500 units. The ending work in process inventory is 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the costs per equivalent unit for the period are $3.75 for materials and $5.20 for labor and overhead, what would be the balance of the ending work in process inventory account? (Do not round cost per equivalent unit).

Please provide the answer to this general accounting question with proper steps.

Please provide the correct solution to this financial accounting question using valid principles.