Question
3 ! Part 2 of 2 10 points Skipped eBook Print Required Information [The following information applies to the questions displayed below.] The Matsui
3 ! Part 2 of 2 10 points Skipped eBook Print Required Information [The following information applies to the questions displayed below.] 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 Conversion costs Current period costs Conversion costs Direct materials $ 975 542 24,170 15,423 Quantity Information is obtained from the manufacturing records and includes the following. Beginning inventory References Current period units started Ending inventory 750 units (60% complete as to materials, 56% complete as to conversion) 5,800 units 2,000 units (40 % complete as to materials, 30% complete as to conversion) Compute the cost of goods transferred out and the ending inventory using the weighted-average method. (Do not round Intermediate calculations.) Costs of goods transferred out Costs in ending inventory
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started