Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for Augustis: August 1 balance 2 Materiala Direct labor Overhead August 31 balance Work in Procean Refining Department 62,000 Completed and transferred to Finished Goods 310,000 72,000 181,000 2 The August 1 work in process inventory consisted of 6,000 units with $39,000 in materials cost and $23,000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion The materials cost included in the Refining Department's ending work in process inventory is closest to Multiple Choice $48.680 $53,680 $55.680 Multiple Choice $48.680 be O $53,680 $55,680. O O $51,680