Chapter 7, Problem 28P

Hi expert please give me answer general accounting question

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1. Shyne Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July:Work-in-process inventory, July 1 (38,000 units):     Direct materials (96% completed)    $ 122,600Conversion (54% completed)    77,050Balance in work in process inventory, July 1    $ 199,650Units started during July    92,000Units completed and transferred    105,600Work-in-process inventory, July 31:     Direct materials (96% completed)    24,400Conversion (54% completed)     Cost incurred during July:     Direct materials    $ 182,000Conversion costs    290,000 a. The cost of goods completed and transferred out under the weighted-average method is calculated to be:   2. Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the…