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	$	975
Conversion costs		362
Current period costs
Direct materials		14,600
Conversion costs		7,523

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

Beginning inventory

750

units

(60% complete as to materials, 52% complete as to conversion)

Current period units started

4,600

units

Ending inventory

1,500

units

(40% complete as to materials, 20% complete as to conversion)

Exercise 8-31 Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-3)

Required:

(1) Compute the equivalent units for the materials and conversion cost calculations

Equivalent units for materials
Equivilent units for conversion costs

(2) Compute the cost per equivalent unit for direct materials and conversion costs. (Round your answers to 2 decimal places

	Cost per Equivalent unit
Materials
Conversion Costs

Exercise 8-32 Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average Method (LO 8-2, 3)

Compute the cost of goods transferred out and the ending inventory using the weighted-average method. (Do not round intermediate calculations.)

Cost of goods transfered out
Cost in ending invenory