Question
Cost of completed units and ending inventory Green Products Inc. cans peas and uses the weighted average cost method. For the month of November, the
Cost of completed units and ending inventory Green Products Inc. cans peas and uses the weighted average cost method. 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 to peas, 50% complete as to labor and overhead, 0% complete as to cans ..................................... 16,500 lb Cost data: Peas ........................................ $.10 per equivalent pound Labor....................................... $.25 per equivalent pound Overhead................................... $.15 per equivalent pound Cans........................................ $.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
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