Illustrate the cost of goods transferred out

Reference no: EM132735082

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 inventory600units(60% complete as to materials, 53% complete as to conversion)

Current period units started4,000units

Ending inventory1,200units(40% complete as to materials, 20% complete as to conversion)

Problem 1: Compute the cost of goods transferred out and the ending inventory using the weighted-average method. (Do not round intermediate calculations.)

Reference no: EM132735082

Questions Cloud

Mathematical principles to model a mechanical system : Critically apply and integrate knowledge and further understanding of other engineering disciplines to study of mechanical systems.

Diversity of protists living in a pond : Describe three factors that might increase the diversity of protists living in a pond?

What is the rationale for valuing inventory at lower of cost : Delevan Corp. uses a periodic inventory system and is counting. What is the rationale for valuing inventory at the lower of cost or market?

What is role in immune system : Human immunodeficiency virus (HIV) preferentially destroys CD4+ cells.

Illustrate the cost of goods transferred out : Illustrate the cost of goods transferred out and the ending inventory using the weighted-average method. (Do not round intermediate calculations.)

Briefly describe two limitations of an elisa : What does ELISA stand for? Briefly describe two limitations of an ELISA. Please use your own words.

What section of the income statement or retained earnings : What section of the income statement or retained earnings statement these items should be classified. Provide a brief rationale for your position.

Explain the importance of microbiology in health care field : Explain the importance of microbiology in health care field.

List the causative agent : List the causative agent (virus) and discuss its properties. Name and briefly discuss 3 diseases that AIDS patients are more likely to contract.

User Account

All Pages