Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the matsui lubricants plant uses the weighted-aver

The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The...

70.2K

Verified Solution

Question

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 $ 970
Conversion costs 347
Current period costs
Direct materials 14,330
Conversion costs 6,997

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

Beginning inventory 700 units (70% complete as to materials, 55% complete as to conversion)
Current period units started 4,500 units
Ending inventory 1,400 units (50% complete as to materials, 20% complete as to conversion)

3.

value: 2.50 points

Required information

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

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The cost of NOT performing 2 cycles of photorespiration is 1 C in the form of...

Biology
Q

The art and literature produced during the Depression era was Osomber and serious O adventurous...

Biology
Q

an obtuse angle The graph between terminal velocity along y axis and square of radius...

Physics
Q

Find the midpoint of the segment between the points (1, 1) and (4,-16)A. (-3/2, 17/2)B....

Geometry
Q

Multiply both sides of each equation by a common denominator to eliminate the fractions Then...

Basic Math
Q

PA 13-4 Fashionables is a franchisee of The Unlimited, the... Use Table 13.4...

Accounting
Q

Consider a loan of Php 40,000, payable for 24 months at an interest rate of...

Accounting
Q

could plz solve the question? tegincing at 2023 ....

Accounting
Q

Basil Company had the following activity in its inventory account during March 2021: Activity Date...

Accounting
Q

Papyrutech Corporation produces fine papers in three production departmentsPulping, Drying, and Finishing. In the Pulping...

Accounting
Q

A $530,000 bond issue on which there is an unamortized discount of $41,000 is redeemed...

Accounting
Q

Glenwood Corp. reported net sales of $580,000 on its income statement for 20X6. Question: If...

Accounting