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The Michmond Corporation uses the weighted average method in its process costing system. The company has only a single processing department. The company's ending work
The Michmond 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 21,600 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 $3.65 for materials and $5.15 for labor and overhead, the total cost assigned to the ending work in process inventory was: $190.080 o $145,584 $123,336 o $114,048
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