Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for Augusti August 1 balance 2 Materials Direct Labor Overhead August 31 balance Work in Process Refining Department 62,000 Completed and transferred to Pinished Goods 310,000 72,000 181,000 2 The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22.000 in conversion cost. The August work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started Into production. The August 3t work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion The August 31 balance in the Refining Department's work in process account is closest to Multigle Choice 367.00 57780 Aling Department Cont of beginning work in procesa inventory Costs added during the period Total cost Materiale conversion Total $ 10,000 $ 15,000 $25,000 291,600 385,000 676,600 $301,600 $400,000 $701,600 Assume the equivalent units of production for materials and conversion are 5,200 units and 5,000 units, respectively, using the weighted average method. 1 4.790 units were completed and transferred to the next department, then what is the total cost assigned to the units completed and tranuferred out of the Miling Department? Multiple Choice 1657020 S61020 1660030 C Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for Augustis: August 1 balance Materials Direct labor Overhead August 31 balance in Process Matining Department 62,000 Completed and transferred to Finished Goods 310,000 72,000 181.000 2 The August 1 work in process inventory consisted of 6,000 units with $38,000 in materials cost and $24.000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 40,000 units were started into production. The August 31 work in proces inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion The materiale cost included in the Retiring Department's ending work in process inventory las closest to Multiple Choice $48.520 Assume the following Information appears in the Miling Department's cost reconciliation report: Milling Department Materials Coat of beginning work in process inventory $ 15,000 Conte added to production during the period $650,000 Cont of ending work in process inventory $ 20,000 What is the cost of the units transferred out of the Milling Department? Multiple Choice 5655.000 SE45000 365.000