Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ook rint Savannah Textiles Company manufactures a variety of natural fabrics for the clothing industry. The following data pertain to the Weaving Department for the
ook rint Savannah Textiles Company manufactures a variety of natural fabrics for the clothing industry. The following data pertain to the Weaving Department for the month of September. Equivalent units of direct material (weighted-average method) Equivalent units of conversion (weighted-average method) Units completed and transferred out during September 80,000 72,000 71,000 The cost data for September are as follows: Work in process, September 1 Direct material Conversion Costs incurred during September Direct material Conversion $121,020 52,624 $310,980 444,176 rences There were 40,000 units in process in the Weaving Department on September 1 (100% complete as to direct material and 40% complete as to conversion). Required: Compute each of the following amounts using weighted-average process costing. 1. Cost of goods completed and transferred out of the Weaving Department. 2. Cost of the September 30 work-in-process inventory in the Weaving Department. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of goods completed and transferred out of the Weaving Department. (Round "Costs per equivalent unit" to 2 decimal places.) Cost of goods completed and transferred out Equivalent units of conversion (weighted-average method) Units completed and transferred out during September The cost data for September are as follows: Work in process, September 1 Direct material Conversion. Costs incurred during September Direct material Conversion $121,020 52,624 $310,980 444,176 72,000 71,000 There were 40,000 units in process in the Weaving Department on September 1 (100% complete as to direct material and 40% complete as to conversion). Required: Compute each of the following amounts using weighted-average process costing. 1. Cost of goods completed and transferred out of the Weaving Department. 2. Cost of the September 30 work-in-process inventory in the Weaving Department. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of the September 30 work-in-process inventory in the Weaving Department. (Round "Costs per equivalent unit" to 2 decimal places.) Direct material Conversion Total $ 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started