Cost of completed units and ending inventory LO₁Jolly Company cans peas and uses an average cost system. For the month of November, the company showed the following:

Required:
1.Calculate the cost of the completed production for November.
2. Show the detailed cost of the ending inventory for November.

Transcribed Image Text:

Peas completed and canned.... Peas in process at the end of November: 100% complete as to peas, 25% complete as to labor and overhead, 0 % complete as to cans.. Cost data: Peas Labor... Overhead Cans... Each can contains 16 oz. or one pound of peas. 245,000 pounds 16,500 pounds $0.10 per equivalent pound $0.25 per equivalent pound $0.15 per equivalent pound $0.07 per can