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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?

a) $41,341

b) $39,741

c) $41,941

d) $38,441

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M993410

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