Solution-Compute the cost of goods transferred out

Compute the cost of goods transferred out

Assignment Help Cost Accounting

Reference no: EM13547982

Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average Method Compute Costs per Equivalent Unit: Weighted-Average Method

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)

Compute the cost of goods transferred out and the ending inventory using the weighted-average method.

Reference no: EM13547982

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Compute the cost of goods transferred out

Reference no: EM13547982

Reference no: EM13547982

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