Principles of Cost Accounting: P6-4 Big Papi Products, Inc. cans peas

Principles of Cost Accounting

P6-4 Cost of completed units and ending inventory
Big Papi Products, Inc. cans peas and uses an average cost system. For the month of November, The company showed the following:
Peas completed and canned 245,000 lbs
Peas in process at the end of November
100% complete as to peas,50% complete as to labor and overhead, 0% complete to cans 16,500 pounds
Cost Data:
Peas $.10 per/lb
Labor $.25/lb
Overhead $.15/lb
Cans $.07 per can
Each can contains 16oz, or one pound 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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