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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...

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 $ 976
Conversion costs 272
Current period costs
Direct materials 11,440
Conversion costs 6,644

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


Beginning inventory 600 units (60% complete as to materials,
53% complete as to conversion)
Current period units started 4,000 units
Ending inventory 1,200 units (40% complete as to materials,
20% complete as to conversion)

Required:
Compute the cost of goods transferred out and the ending inventory using the weighted-average method. (Round unit costs for materials and conversion to 2 decimal places and the final answers to the nearest dollar amount. Omit the "$" sign in your response.)


Cost of goods transferred out $
Costs in ending inventory $
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Solutions to assignment of Scardust  #3 (Mar 19).xlsx

Solutions to assignment of Scardust #3 (Mar 19)
Matsui Lubricants
COST OF PRODUCTION REPORT
EQUIVALENT UNITS Physical
Units
Units to be accounted for:
Units in beginning WIP
Units started in...

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