Reference no: EM132667435
Factory makes fashion handbags A. Cutting departmentB. Sewing departmentFactory uses a out of leather.
The manufacturing takes place in two departments:
- cuts the leather into pieces, bundles the pieces for each handbag into a unit and sends the bundles to the sewing department.
- sews the pieces into the finished products with zippers, buckles, and decorative pieces added.
- process costing system to determine its product costs.
All materials for each department are added at the beginning of the process, and conversion costs are added evenly throughout.
The following details are available for May production in the sewing department:
Beginning work-in-process (WIP) inventory
Number of tote bundles 300
Direct materials $3,825
Conversion cost $2,250
Transferred-in cost $7,500
Per cent completion 50%
May activity
Number of tote bundless transferred from cutting 3,500
Number of tote bundles completed 3,400
Per cent completion of ending inventory 65%
Transferred-in cost, direct materials cost, and conversion cost per equivalent unit have not changed from the previous period.
The company uses the weighted average method.
Problem 1: What is the cost of the handbags transferred out of the sewing department for the month of May?
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