Question

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).................... 62,500
Equivalent units of conversion (weighted-average method)......................... 49,000
Units completed and transferred out during November............................... 47,000
The cost data for November are as follows:
Work in process, November 1
Direct material.............................................................................................$ 85,750
Conversion................................................................................................ 16,900
Costs incurred during November
Direct material................................................................................$158,000
Conversion.................................................................................................. 267,300
There were 19,000 units in process in the Weaving Department on November 1 (100% complete as to direct material, and 38% 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 November 30 work-in-process inventory in the Weaving Department.
3. Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following data change: the costs incurred in November were $160,000 for direct material and $270,000 for conversion.



$1.99
Sales4
Views308
Comments0
  • CreatedApril 22, 2014
  • Files Included
Post your question
5000