Grey Giant Products Inc. cans peas and uses an average cost system. For the month of November, the company showed the following:

Peas completed and canned . . . . . . . . . . . . . . . . . 245,000 lb

Peas in process at the end of November:

100% complete as to peas, 50% complete

as to labor and overhead, 0% complete as

to cans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,500 lb

Cost data:

Peas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.10 per equivalent pound

Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.25 per equivalent pound

Overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.15 per equivalent pound

Cans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $0.07 per can

Each can contains 16 oz, or 1 lb, of peas.

Required:

1. Calculate the cost of the completed production for November.

2. Show the detailed cost of the ending inventory for November.