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[The following information applies to the questions displayed below. Ogden Co. manufactures a single product...

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[The following information applies to the questions displayed below. Ogden Co. manufactures a single product In one department. All direct materials are added at the beginning of the manufacturing process. Direct labor and overhead are added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process cost accounting. During October the company completed and transferred 26,000 units of product to finished goods Inventory. Its 3,800 units of beginning goods In process consisted of $22,200 of direct materials, $141,300 of direct labor, and $102,640 of factory overhead. It has 3,400 units (100% complete with respect to direct materials and 80% complete with respect to direct labor and overhead) in process at month-end. After entries to record direct materials, direct labor, and overhead for October, the company's Goods in Process Inventory account follows. 8 Goods in Process Inventory Explanation Acct. No.133 Balance Debit Credit 511,600 966,640 Oct. 1 Balance 31 DIrect materlals 31 Direct labor 31 Appliled overhead 266,140 777,740 1.993,040 2,959,680 1.215,300

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