Question: 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,

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. Information concerning operations in the Forming Department in October follows:

Materials Units

Cost Work in process on October 1 16,000 $3,000

Units started during October 66,000 $25,560

Units completed and transferred to the next Department during October 50,000

What was the materials cost of work in process on October 31? (Round your final answer to the nearest whole dollar amount.) Multiple Choice

a. $23,060

b. $25,526

c. $26,000

d. $11,145

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