Morgan Corporation uses a process costing system. The compan…
Morgan Corporation uses a process costing system. The company has only one processing department. At the end of the period, work in process inventory consists of 20,000 units that have a total cost of $26,000. The cost per equivalent unit is $2.00 for direct materials and $1.50 for conversion costs. With respect to direct materials, the units in ending work in process inventory are 20% complete. With respect to conversion costs, the units in ending work in process inventory are: