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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:
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 1,010 527 Current period costs Direct materials Conversion costs 24,060 14,398 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 700 units (70% complete as to materials, 54% complete as to conversion) 5,700 units 1,900 units (50% complete as to materials, Current period units started Ending inventory 25% complete as to conversion) value: 1.11 points Required information 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
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