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) 60,000 Equivalent units of conversion (weighted-average method) 50,000 Units completed and transferred out during September 46,000 The cost data for September are as follows: Work in process, September 1 Direct material $ 115,520 Conversion 56,424 Costs incurred during September Direct material $ 178,480,480 Conversion 278,576 There were 20,000 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.
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