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Compute cost of goods transferred out and ending inventory

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Reference no: EM132700183

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 $990

Conversion costs 392

Current period costs Direct materials 16,770

Conversion costs 8,617

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

Beginning inventory850units(70% complete to materials,
54% complete to conversion)
Current period units started 4,800units
Ending inventory1,700units(50% complete to materials,
20% complete to conversion)

Problem 1: Compute the cost of goods transferred out and the ending inventory using the weighted-average method

Reference no: EM132700183

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