Reference no: EM132840529

Question - 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.