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The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes
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.
Expert Solution
1) Cost of goods completed and transferred out during February = $279,000
2) Cost of the February 28 work-in-process inventory = $25,100
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