Questions:

1. What were the total costs to be accounted for?

2. What was the cost per equivlent unit of production for February for Material?

3. What was the cost per equivlent unit of production for February for Conversion?

3. What was the total cost of the frames transferred to finished goods in February?

4. What was the total cost in WIP at 2/28?

NOTE: wrt stands for "with respect to" Problem A Lumberjacks, Inc. makes wood frames. They have a single department and they use process costing (FIFO method) On January 31, they had the following costs in WIP: Material 4,980 Conversion9245 $ 14,225 There were 2,000 frames on hand at 1/31. The frames were 100% complete wrt Materials costs but only 20% complete wrt Conversion costs. During February, they started 10,500 frames into production. 11,000 frames were completed during the month and transferred out. The 1,500 frames that weren't completed were 100% complete wrt Materials costs but only 40% complete wrt converstion costs. Total manufacturing costs incurred in February were Material 22,050 Conversion47,600 S 69,650