Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.)

Direct material
Conversion
Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Algorithms Understanding Algorithmic Systems From The Outside In Foundations And Trends

Authors: Danaƫ Metaxa, Joon Sung Park, Ronald E Robertson, Karrie Karahalios, Christo Wilson, Jeff Hancock, Christian Sandvig

1st Edition

1680839160, 978-1680839166

More Books

Students also viewed these Accounting questions