The Gasson Company uses the weighted average method in its process costing syste

Question

The Gasson Company uses the weighted average method in its process costing system. The company's ending work in process inventory consists 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 $3.90 for the materials and $1.90 for labor and overhead, what is the balance of the ending work in process inventory account would be: (Do not round Cost per equivalent unit)

$72,800

$87,000

$58,000

$81,300

Explanation / Answer

Here.. material is 100percent complete so 15000*$3.9=58500 and labout and overheads 80%completed so 1500*$1.9*80%=22800 so $81300 (58500+22800)

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