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