Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. annin laboratories uses the weighted-average metho

Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records...

70.2K

Verified Solution

Question

Accounting

Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials $ 20,553 Conversion costs 6,805 Current period costs Direct materials 225,147 Conversion costs 117,460 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 6,000 units (40% complete as to materials, 15% complete as to conversion) Current period units started 44,000 units Ending inventory 11,000 units (75% complete as to materials, 35% complete as to conversion) Compute the cost of goods transferred out and the ending inventory for February using the weighted-average method

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Some say that optimal estimators should be preferred while others advocate the use of more robust...

Statistics
Q

A real estate agent in Athens used regression analysis to investigate the relationship between apartment sales...

Statistics
Q

1. Please describe negative control in terms of transcriptional regulation of gene expression? 2. Please explain the...

Biology
Q

I need a 5 paragraph literary analysis on a poem “fire and ice” by Robert Frost

Psychology
Q

How to determine all the basic solutions of an optimization problem, and classify them as feasible...

Advance Math
Q

1 The following nucleotide sequence is found on the template strand of DNA in the...

Biology
Q

Substances through which charges move easily are called Select one O a insulators Ob conductors...

Physics
Q

Two equal vectors have a resultant to eithe side what is the angle between them...

Physics
Q

Dismiss All Please click "CONTINUE" or "WAIT" if you receive an unresponsive warning. If you...

Accounting
Q

Jack filed his tax return 10 months and 15 days late and did not request...

Accounting
Q

Luddph Corporation provided the following partialtrial balance for the curnent year. (Click the ioon to...

Accounting
Q

If you can earn 12% on your investments, and you would like to accumulate $100...

Finance