Refer to the data in Exercise 8-31. Compute the cost of goods transferred out and the ending inventory using the weighted-average method.

  

Reference:  Exercise 8-31

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:

  

      

  

Quantity information is obtained from the manufacturing records and includes the following:

  

      

  

Required      

Compute the cost per equivalent unit for direct materials and conversion costs.

Beginning WIP inventory Direct materials.... Conversion costs $ 976 272 Current period costs Direct materials... Conversion costs 11,440 6,644