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What total cost assigned to ending work in process inventory

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Reference no: EM132996530

Problem 1: The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 19,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.00 for materials and $4.50 for labor and overhead, the total cost assigned to the ending work in process inventory was:

Multiple Choice

Option 1: $142,500
Option 2: $85,500
Option 3: $91,200
Option 4: $108,300

Reference no: EM132996530

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