- Exercise 4-23 Analysis of Total Costs; Weighted-Average (LO4-5) The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. "Complete as to direct material; 40% complete as to conversion. page 162 The equivalent units of activity for February were as follows: Required: 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