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

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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 $975

Conversion costs 362

Current period costs

Direct materials 14,600

Conversion costs7,523

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

Beginning inventory 750units (60% complete as to materials,52% complete as to conversion)

Current period units started 4,600 units

Ending inventory 1,500units (40% complete as to materials,20% complete as to conversion)

required

(1) Compute the equivalent units for the materials and conversion cost calculations

Equivalent units for materials=?

Equivalent units for conversion costs =?

(2) Compute the cost per equivalent unit for direct materials and conversion costs.(Round your answers to 2 decimal places.)

Direct materials=?

Conversion costs=?

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

Cost of goods transferred out=?

Costs in ending inventory=?

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