The Richmond Company uses the weighted-average method in its process costing system. The company hasonly a single processing department. The company’s ending work in process inventory on August 31consisted of 18,000 units. The units in the ending work in process inventory were 100% complete withrespect to materials and 60% complete with respect to labor and overhead.If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the totalcost assigned to the ending work in process inventory was: (hint you must compute equivalent units assignedto the ending work in process first) AccountingBusinessManagerial Accounting ACCT 2025
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