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    Balance of the ending work in process

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    Balance of the ending work in process inventory 4-6

    Jimmy Company uses the weighted-average method in its process costing system. The ending work in process inventory consists of 8,800 units. The ending work in process inventory is 100% complete with respect to materials and 68% complete with respect to labor and overhead. If the cost per equivalent unit for the period is $3.70 for material and $1.20 for labor and overhead, what is the balance of the ending work in process inventory account?

    $41,341

    $39,741

    $41,941

    $38,441

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    https://brainmass.com/business/business-management/balance-ending-work-process-211133

    Solution Preview

    Equivalent units for material are 8,800 since it is 100% complete. The cost ...

    Solution Summary

    An answer is chosen from given options and briefly explained.

    $2.19

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