Lucas Company uses the weighted average method in its process costing system. The company adds materials at the beginning of the process in the forming department, which is the first of two stages in its production process. Materials are 100% complete with respect to beginning and ending work in process inventory. Information concerning operations in the forming department in October follows.
What was the materials cost of work in process on October 31?
| Units |
Material Cost |
| Work in process on October 1 |
6,000 |
$3,000 |
| Units started in October |
50,000 |
$25,560 |
| Units completed and transferred to next department during October |
44,000 |
|