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Raleigh Textiles Company manufactures a variety of natural fabrics for the clothing industry. The following data pertain to the Weaving Department for the month of
Raleigh Textiles Company manufactures a variety of natural fabrics for the clothing industry. The following data pertain to the Weaving Department for the month of November. |
Equivalent units of direct material (weighted-average method) | 70,000 |
Equivalent units of conversion (weighted-average method) | 64,000 |
Units completed and transferred out during November | 62,000 |
The cost data for November are as follows:
Work in process, November 1 | ||
Direct material | $ | 103,240 |
Conversion | 52,728 | |
Costs incurred during November | ||
Direct material | $ | 246,760 |
Conversion | 356,872 |
There were 30,000 units in process in the Weaving Department on November 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 |
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