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Business, 05.06.2020 19:03, tfyfejeje1739
The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day.
Beginning WIP inventory
Direct materials $986
Conversion costs 317
Current period costs
Direct materials 12,390
Conversion costs 6,083
Quantity information is obtained from the manufacturing records and includes the following.
Beginning inventory 600 units (60% complete as to materials, 53% complete as to conversion)
Current period units started 4,300 units
Ending inventory 1,200 units (40% complete as to materials, 25% complete as to conversion)
Required:
Compute the cost of goods transferred out and the ending inventory using the weighted-average method.
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Answers: 2
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