Question

Please show work: Bixby Carpet Manufacturing Inc. uses a process costing system and calculates per-unit costs...

Please show work:

Bixby Carpet Manufacturing Inc. uses a process costing system and calculates per-unit costs using the weighted average method. The following data relates to the first production department (the Weaving Department) of its Rayon carpet brand for the month of November.

  • Beginning Work in Process Inventory: 900 units, 40% complete
  • Ending Work in Process Inventory: 1,200 units, 50% complete
  • Units started: 15,600 units

All direct materials are added at the beginning of the process, and conversion costs are assumed to be incurred uniformly throughout. The cost of direct materials in beginning Work in Process Inventory was $42,000, and conversion costs in beginning Work in Process were $10,600.

During the month, $220,000 of direct materials were added to production. Direct labor for the period was $46,000 and manufacturing overhead was $17,600. Over the course of the month, 15,300 units were completed and transferred out of the Weaving Department to the Finishing Department.

The equivalent units for conversion costs are

The cost per equivalent unit for conversion costs is

The total conversion costs assigned to the units transferred out is

The total conversion costs assigned to the ending inventory is

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Answer #1

1.

Equivalent units of production (EUP) - Weighted Average method
Units % material EUP-Materials % Conversion EUP- Conversion
Units Completed and transferred out (600+4000-1200) 15300 100% 15300 100% 15300
units of Ending work in process 1200 100% 1200 50% 600
Equivalent units of production 16500 15900

quivalent units for conversion costs are = 15900


2.

Cost per Equivalent unit: Conversion
Cost of Beginning Work in Process $10,600
Cost added $63,600
Total Costs $74,200
/Equivalent units of Production 15900
Cost per Equivalent unit of Production $4.66667

3.

Cost of Units Transferred Out EUP Cost per EUP Total Cost
Total Conversion cost 15300 $4.66667 $71,400

4.

Cost of ending work in process EUP Cost per EUP Total Cost
Conversion 600 $4.67 $2,800
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