Question

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: 600 units, 40% complete Ending Work in Process Inventory: 800 units, 50% complete Units started: 10,400 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, 5,100 units were completed and transferred out of the Weaving Department to the Finishing Department.
The total conversion costs assigned to the units transferred out is

Answer 1

he total conversion costs assigned to the units transferred out is $68,804 or $68,799 (intermediate calculation rounded to 2 decimals)

Working

Statement of Equivalent Units(Weighted average)
				Material		Conversion cost
	Units			Complete %	Equivalent units	Complete %	Equivalent units
Transferred	5,100			100%	5,100.0	100%	5,100
Closing WIP	800			100%	800.0	50%	400
Total	5,900			Total	5,900.0	Total	5,500

Cost per Equivalent Units (Weighted average)
COST		Material	Conversion cost	TOTAL
Beginning WIP Inventory Cost		$ 42,000	$ 10,600	$ 52,600
Cost incurred during period		$ 220,000	$ 63,600	$ 283,600
Total Cost to be accounted for		$ 262,000	$ 74,200	$ 336,200
Total Equivalent Units		5,900	5,500
Cost per Equivalent Units		$            44.41	$           13.49

Statement of cost (Weighted average)
Cost	Equivalent Cost/unit	Ending WIP		Transferred
		Units	Cost Allocated	Units	Cost Allocated
Conversion cost	$ 13.49	400	$ 5,396	5,100	$ 68,799.