Analysis of Total Costs; Weighted-Average
The following data pertain to Tulsa Paperboard Company. a manufacturer of cardboard boxes.
Work in process, February 1 | 10,000 units* |
Direct material | $ 5,500 |
Conversion | 17,000 |
Costs incurred during February |
|
Direct material | $ 110,000 |
Conversion | 171,600 |
*Complete as to direct material: 40% complete as to conversion.
The equivalent unit of activity for February were as follows
Direct material (weighted-average method) | 110,000 |
Conversion (weighted-average method) | 92,000 |
Completed and transferred out | 90,000 |
Required: Compute the following amounts using weighted-average process costing.
1. Cost of goods completed and transferred out during February,
2. Cost of the February 28 work-in-process inventory.
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