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Gourmet Foods Ltd. operates a process costing system. The company produces chocolate bars in two stages: mixing and molding. During the month, 20,000 pounds of
Gourmet Foods Ltd. operates a process costing system. The company produces chocolate bars in two stages: mixing and molding. During the month, 20,000 pounds of chocolate were mixed at a cost of $40,000, and 18,000 pounds were molded at a cost of $50,000. Calculate the cost per equivalent unit for mixing and molding processes. Additionally, determine the total cost of goods completed and transferred out.
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