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

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The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. Work in process, February 1 Direct material Conversion Costs incurred during February Direct material Conversion 17,000 units* $ 45,500 18,500 $ 248,300 147,750 *Complete as to direct material; 20% complete as to conversion. The equivalent units of activity for February were as follows: Direct material (weighted-average method) Conversion (weighted-average method) Completed and transferred out Required: 113,000 95,000 89,000 Compute the following amounts 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. The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. Work in process, February 1 Direct material Conversion Costs incurred during February Direct material Conversion 17,000 units* $ 45,500 18,500 $ 248,300 147,750 *Complete as to direct material; 20% complete as to conversion. The equivalent units of activity for February were as follows: Direct material (weighted-average method) Conversion (weighted-average method) Completed and transferred out Required: 113,000 95,000 89,000 Compute the following amounts 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.