Question
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
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) | 50,000 | ||
Equivalent units of conversion (weighted-average method) | 44,000 | ||
Units completed and transferred out during September | 41,000 | ||
The cost data for September are as follows:
Work in process, September 1 | |||
Direct material | $ | 83,220 | |
Conversion | 45,604 | ||
Costs incurred during September | |||
Direct material | $ | 146,780 | |
Conversion | 235,996 | ||
There were 10,000 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.
Compute the cost of goods completed and transferred out of the Weaving Department. (Round "Costs per equivalent unit" to 2 decimal places.)
Compute the cost of the September 30 work-in-process inventory in the Weaving Department. (Round "Costs per equivalent unit" to 2 decimal places.)
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