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Lelechka [254]
3 years ago
7

The Madden Company uses a process costing system. During September the mixing department transferred out 65,000 units. The Septe

mber 30th work-in-process inventory in the mixing department consisted of 22,000 equivalent units of material and 20,150 equivalent units of labor and overhead. The cost per equivalent unit was $5.50 for materials and $5.00 for labor and overhead.
The total balance in the work-in-process inventory account on September 30th was______.
Business
1 answer:
iren [92.7K]3 years ago
5 0

Answer:

Total balance in the work-in-process inventory account on September 30th was  $ 121000 + $ 110825= $ 231825

Explanation:

Cost per equivalent unit for material = $ 5.50

Equivalent units of materials = 22,000

Cost of Materials = $ 121,000

Cost per equivalent unit for labor and overhead = $ 5.50

Equivalent units of materials = 20,150

Cost of labor and FOH = $ 110825

Total balance in the work-in-process inventory account on September 30th was = Material + Labor + OH=  $ 121000 + $ 110825= $ 231825

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