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Question - 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 inventory 850 units (70% complete a to materials, 54% complete a to conversion)
Current period units started 4,800 units
Ending inventory 1,700units (50% complete a to materials, 20% complete a to conversion)
Required -
a. Compute the equivalent units for the materials and conversion cost calculations.
b. Compute the cost per equivalent unit for direct materials and conversion costs.
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