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.

Answers: 2

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The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inve...