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 $ 980 Conversion costs 287 Current period costs Direct materials 11,170 Conversion costs 4,963 Quantity information is obtained from the manufacturing records and includes the following:

Beginning inventory 500 units (65% complete as to materials,

50% complete as to conversion)

Current period units started 4,100 units

Ending inventory 1,000 units (45% complete as to materials,

15% complete as to conversion)

Required information

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

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

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

Cost of goods transferred out?

Costs in ending inventory?