(Weighted average) Helsinki Products manufactures an electronic language trans¬ lator. The device can translate seven languages in either direction. Analysis of beginning Work in Process Inventory for February 1997 revealed the following:

During February, Helsinki Products started production of another 3,800 trans¬ lators and incurred $85,380 for material, $23,560 for direct labor, and $65,720 for overhead. On February 28, the company had 400 units in process (70 percent complete as to material, 90 percent complete as to direct labor, and 80 percent complete as to overhead).

a. Prepare a cost of production report for February using the weighted average method.

b. Journalize the February transactions.

c. Prepare T-accounts to represent the flow of costs for Helsinki Products for February. Use “XXX” where amounts are unknown and identify what each unknown amount represents.LO1

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800 UNITS PERCENT COMPLETE COST INCURRED Material Direct labor Overhead 4945 65 $ 8,700 3,800 40 Total beginning WIP 6,600 $19,100