Question: A firm has redesigned its production process so that it now takes 12 hours for a unit to be made. Using the old process, it

A firm has redesigned its production process so that it now takes 12 hours for a unit to be made. Using the old process, it took 16 hours to make a unit. If the process makes one unit each hour on average and each unit is worth $247. Then the reduction in work-in-process value is?

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