Question

Chloe Carpet manufactures broadcom carpet in seven processos spinning, dyeing, plying, spooling, lufting, lalexing and shearing. In the Dyeing Department, direct materials (dye) are added at the beginning of the process. Conversion costs are incurred evenly throughout the process. Information for November 2016 follows: (Click the icon to view the data. Read the mguirements i Data Table 665 Total units to account for Units accounted for: Completed and transferred out Ending work-in-process 550 550 115 560 550 115 115 66 92 642 75 rolls 590 malls 550 rolls 115 rolls 665 365 Total units accounted for Transferred in Direct Materials Conversion Costs Total Costs UNITS Beginning Work in Process Inventory Transformed in from Spinning Department during November Completed during November Ending Work-in-Proos (89% complate for conversion work) COSTS Beginning Work-in-Process Inventory (transferred in costs, $3,700, materials cost, 51,450, conversion couts, $4,950) Transferred in from Spinning Department Materials cost added during November Conversion costs added during November (manufacturing wages, $8,050; manufacturing overhoed allocated. S45.422) $ 10.100 $ COSTS Costs to account far: Beginning work-in-process Costs added during the period Tolal costs la account for Divided by: Total EUP 3,700 5 21,670 25,270 $ 665 35.00 $ 1,450 $ 11,185 12,635 $ B85 19.00 $ $ 4,950 $ 53,472 58,422 $ 42 21.00 10,100 86,227 96,327 21,570 11.185 53 472 $ Print Done Cost per equivalent unit Costs socounted for Completed and transferred out Ending work-in-process Total costs accounted for

Answer 1

Last part solution with all workings are provided below

	Transferred in	Direct material	Conversion costs	Total costs
Cost accounted for:
Completed and transferred out	$          20,900.00	$   10,450.00	$          50,050.00	$     81,400.00
Ending Work in process	$       4,370.00	$ 2,185.00	$       8,372.00	$     14,927.00
Total cost accounted for	$     25,270.00	$12,635.00	$     58,422.00	$     96,327.00

Working

Statement of Equivalent Units(Weighted average)
		Transferred in		Material		Conversion cost
	Units			Complete %	Equivalent units	Complete %	Equivalent units
Transferred	550	100%	550	100%	550.0	100%	550
Closing WIP	115	100%	115	100%	115.0	80%	92.00
Total	665		665	Total	665.0	Total	642

.

Cost per Equivalent Units (Weighted average)
COST	Transferred in	Material	Conversion cost	TOTAL
Beginning WIP Inventory Cost	$            3,700.00	$ 1,450	$ 4,950	$ 10,100
Cost incurred during period	$          21,570.00	$ 11,185	$ 53,472	$ 86,227
Total Cost to be accounted for	$ 25,270	$ 12,635	$ 58,422	$ 96,327
Total Equivalent Units	665.0	665.0	642.0
Cost per Equivalent Units	$                38.000	$         19.000	$                91.000

.

Statement of cost (Weighted average)
Cost	Equivalent Cost/unit	Ending WIP		Transferred
		Units	Cost Allocated	Units	Cost Allocated
Transferred in	$                  38.00	115	$             4,370.00	550	$ 20,900
Material	$ 19.00	115	$             2,185.00	550	$ 10,450
Conversion cost	$ 91.00	92	$             8,372.00	550	$ 50,050
TOTAL	$ 96,327	TOTAL	$ 14,927	TOTAL	$ 81,400