Question
In: Accounting
[The following information applies to the questions displayed below.] The Matsui Lubricants plant uses the weighted-average...
[The following information applies to the questions
displayed below.]
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 | $ | 1,000 | |
| Conversion costs | 437 | ||
| Current period costs | |||
| Direct materials | 18,400 | ||
| Conversion costs | 10,111 | ||
Quantity information is obtained from the manufacturing records and includes the following.
| Beginning inventory | 400 | units | (70% complete as to materials, 52% complete as to conversion) |
| Current period units started | 5,100 | units | |
| Ending inventory | 1,300 | units | (50% complete as to materials, 15% complete as to conversion) |
Compute the cost of goods transferred out and the ending inventory using the weighted-average method.
Costs of goods transferred out
Costs in ending inventory
Solutions
ekkarill92 answered 2 years agoRelated Solutions
[The following information applies to the questions displayed below.] The Matsui Lubricants plant uses the weighted-average...
[The following information applies to the questions
displayed below.]
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
$
1,010
Conversion costs
527
Current period costs
Direct materials
24,060
Conversion costs
14,398
Quantity information is obtained from the manufacturing records
and includes the following.
Beginning inventory
700
units
(70% complete as to materials,
54% complete as to conversion)
Current...
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process...
Required information
[The following
information applies to the questions displayed below.]
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 740,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 202,000 units that are 50%
complete with respect to conversion. Beginning inventory had
$306,150 of...
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process...
Required information
[The following
information applies to the questions displayed below.]
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 800,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 191,000 units that are 50%
complete with respect to conversion. Beginning inventory had
$515,320 of...
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process...
Required information
[The following information applies to the questions
displayed below.]
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 715,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 199,000 units that are 50%
complete with respect to conversion. Beginning inventory had
$297,050 of...
The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories.
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
$
1,010
Conversion costs
527
Current period costs
Direct materials
24,060
Conversion costs
14,398
Quantity information is obtained from the manufacturing records and includes the following.
Beginning...
Required information Skip to question [The following information applies to the questions displayed below.] The Matsui...
Required information
Skip to question
[The following information applies to the questions
displayed below.]
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
$
982
Conversion costs
377
Current period costs
Direct materials
15,650
Conversion costs
7,903
Quantity information is obtained from the manufacturing records
and includes the following.
Beginning inventory
800
units
(65% complete as to materials,
53%...
The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting...
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 $ 985
Conversion costs 572
Current period costs
Direct materials 28,660
Conversion costs 17,809
Quantity information is obtained from the manufacturing
records and includes the following:
Beginning inventory 850 units (70% complete as to
materials,
54% complete as to conversion)
Current period units started 6,000 units
Ending inventory 1,600 units...
1. The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The...
1. 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
$
975
Conversion costs
542
Current period costs
Direct materials
24,170
Conversion costs
15,423
Quantity information is obtained from the manufacturing records
and includes the following:
Beginning inventory
750
units
(60% complete as to materials,
56% complete as to conversion)
Current period units started
5,800
units
Ending inventory
2,000...
The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting...
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
$
1,010
Conversion costs
527
Current period costs
Direct materials
24,060
Conversion costs
14,398
Quantity information is obtained from the manufacturing records
and includes the following.
Beginning inventory
700
units
(70% complete as to materials,
54% complete as to conversion)
Current period units started
5,700
units
Ending inventory
1,900
units...
The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting...
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
$
986
Conversion costs
317
Current period costs
Direct materials
12,390
Conversion costs
6,083
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
4,300
units
Ending inventory
1,200
units...
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