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) 70,000 Equivalent units of conversion (weighted-average method) 60,000 Units completed and transferred out during November 57,000 The cost data for November are as follows: Work in process, November 1 Direct material $ 112,740 Conversion 54,108 Costs incurred during November Direct material $ 181,260 Conversion 293,892 There were 30,000 units in process in the Weaving Department on November 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. (Round "Costs per equivalent unit" to 2 decimal places.)

2.	Cost of the November 30 work-in-process inventory in the Weaving Department. (Round "Costs per equivalent unit" to 2 decimal places.)
	Direct Material- Conversion- Total-

Answer 1

Calculate cost per equivalent unit

	Direct material	Conversion
Beginning wip	112740	54108
Cost added	181260	293892
Total Cost	294000	348000
Equivalent unit	70000	60000
Cost per equivalent unit	4.2	5.8

a) Cost of goods completed and transferred out = (4.2+5.8)*57000 = $570000

b) Cost of ending work in process :

Direct material (13000*4.2)	54600
Conversion (3000*5.8)	17400
Total	72000