Business, 02.03.2020 19:32 emilyblaxton

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 $ 991 Conversion costs 332 Current period costs Direct materials 13,100 Conversion costs 6,485 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 650 units (60% complete as to materials, 54% complete as to conversion) Current period units started 4,400 units Ending inventory 1,300 units (40% complete as to materials, 20% complete as to conversion). Compute the cost of goods transferred out and the ending inventory using the weighted-average method.

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The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inve...

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