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The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes

Accounting

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The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes.

Work in process, February 1                                  10,000Units

       Direct Material                        $   5,500

       Conversion                                  17,000

Costs incurred during February

      Direct Material                           $ 110,000

      Conversion                                    171,600

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 amount 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.