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. Materrials information concerning operations in the Forming Department in October follows: Units Costs Work in process on Octiber 1 16,000 $3,000 Units started during Octiber 66,000 $25,560 Units completed and transferred to next department dring 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.)Indiana Corporation produces a single product that it sells for $9 per unit. During the first year of operations, 100,000 units were produced, and 90,000 units were sold. Manufacturing costs and selling and administrative expenses for the year were as follows: Fixed Costs Variable Costs Raw materials $1.75 per unit produced Direct labour 1.25 per unit produced Factory overhead $100,000 0.50 per unit produced Selling and administrative 70,000 0.60 per unit sold What was Indiana Corporation's operating income for the year using variable costing?ABC Company has a cash balance of $9,000 on April 1. The company must maintain a minimum cash balance of $6,000. During April, expected cash receipts are $45,000. Expected cash disbursements during the month total $52,000. What amount will the company need to borrow during April