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Lucas Corporation uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in the Forming Department, which is the first of two stages in its production process.
Information concerning operations in the Forming Department in October follows:
Units Materials
CostWork in process on October 1 6,000 $3,000
Units started during October 50,000 $25,560
Units completed and transferred to the next Department during October 44,000
Question 1: What was the materials cost of work in process at October 31?
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