Determine cost of goods transferred out and ending inventory

Reference no: EM132735002

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 cost $272
current period costs
direct materials $11,440
conversion cost $6,644

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

beginning inventory 600 units (60% complete t materials and 53% complete to conversion)
current period units started 4000 units
ending inventory 1200 units (40% complete to materials and 20% complete to conversion)

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

Reference no: EM132735002

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