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Barn Company uses a process costing system. During August, the mixing department transferred out 65,000 units. The August 31 work in process inventory balance 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. How much was the total balance in the work in process inventory account on August 31?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9967313

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