Use the following information to complete Exercises :
Porter 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. Note that since carpet is sold by the square yard, each "unit" refers to a square yard of carpet:
• Beginning Work in Process Inventory: 600 units, 40% complete with respect to conversion.
• Ending Work in Process Inventory: 800 units, 25% complete with respect to conversion.
All direct materials are added at the beginning of the process, and conversion costs are assumed to be incurred uniformly throughout production. The cost of direct materials in beginning Work in Process Inventory was $21,200, and conversion costs in beginning Work in Process were $4,900.
During the month, $110,800 of direct materials were added to production. Direct labor for the period was $23,120. Overhead is allocated on at 25% of direct labor costs. Over the course of the month, 10,200 units were completed and transferred out of the Weaving Department to the Finishing Department.
NOTE: Round all per-unit costs to the nearest penny
-What is the ending Work in Process Inventory for the Weaving Department at the end of the month of November?

Question

Use the following information to complete Exercises :
Porter 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. Note that since carpet is sold by the square yard, each "unit" refers to a square yard of carpet: 
• Beginning Work in Process Inventory: 600 units, 40% complete with respect to conversion.
• Ending Work in Process Inventory: 800 units, 25% complete with respect to conversion.
All direct materials are added at the beginning of the process, and conversion costs are assumed to be incurred uniformly throughout production. The cost of direct materials in beginning Work in Process Inventory was $21,200, and conversion costs in beginning Work in Process were $4,900. 
During the month, $110,800 of direct materials were added to production. Direct labor for the period was $23,120. Overhead is allocated on at 25% of direct labor costs. Over the course of the month, 10,200 units were completed and transferred out of the Weaving Department to the Finishing Department.
NOTE: Round all per-unit costs to the nearest penny
-What is the ending Work in Process Inventory for the Weaving Department at the end of the month of November?

Quizplus · Accepted Answer

The Answer of Use the following information to complete Exercises :
Porter 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. Note that since carpet is sold by the square yard, each "unit" refers to a square yard of carpet: 
• Beginning Work in Process Inventory: 600 units, 40% complete with respect to conversion.
• Ending Work in Process Inventory: 800 units, 25% complete with respect to conversion.
All direct materials are added at the beginning of the process, and conversion costs are assumed to be incurred uniformly throughout production. The cost of direct materials in beginning Work in Process Inventory was $21,200, and conversion costs in beginning Work in Process were $4,900. 
During the month, $110,800 of direct materials were added to production. Direct labor for the period was $23,120. Overhead is allocated on at 25% of direct labor costs. Over the course of the month, 10,200 units were completed and transferred out of the Weaving Department to the Finishing Department.
NOTE: Round all per-unit costs to the nearest penny
-What is the ending Work in Process Inventory for the Weaving Department at the end of the month of November?

Use the Following Information to Complete Exercises