Chap004 (dragged) 7 - Cost remaining in November 30 work in...

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McGraw-Hill/Irwin ¤ 2005 The McGraw-Hill Companies, Inc. 4 - 8 Solutions Manual EXERCISE 4-24 (25 MINUTES) RALEIGH TEXTILES COMPANY Weighted-Average Method D i r e c t Material Conversion Total Work in process, November 1. ................. $ 85,750 $ 16,900 $ 102,650 Costs incurred during November . ........... 158,000 267,300 4 2 5 , 3 0 0 Total costs to account for. ........................ $243,750 $284,200 $ 5 2 7 , 9 5 0 Equivalent units. ........................................ 62,500 49,000 Costs per equivalent unit. ......................... $3.90 $5.80 $9.70 1. Cost of goods completed and t r a n s f e r r e d o u t d u r i n g N o v e
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Unformatted text preview: Cost remaining in November 30 work in process: Direct material (15,500* u $3.90) $ 6 , 4 5 Conversion (2,000* u $5.80). ....... 1 1 , 6 T o t a l . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 2 , 5 T o t a l c o s t s a c c o u n t e d for. ............... $527,950 *Equivalent units in November 30 work in process: D i r e c t Material Conversion Total equivalent units (weighted average). ....................... 62,500 49,000 Units completed and transferred out. ................................ (47,000) ( 4 7 , ) Equivalent units in ending work in process . .................... 15,500 2,000...
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