The Matsui Lubricants plant uses the weighted-average method

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Description

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

$

1,940

Conversion
costs

476

Current
period costs

Direct
materials

22,130

Conversion
costs

12,946





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







Beginning inventory

560

units (50%
complete as to materials,

63% complete as
to conversion)

Current
period units started

3,700

units

Ending
inventory

1,100

units (50%
complete as to materials,

10% complete as
to conversion)





Required:



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



2.

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

$

1,957

Conversion
costs

552

Current
period costs

Direct
materials

22,500

Conversion
costs

13,200





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







Beginning
inventory

590

units (58%
complete as to materials,

51% complete as
to conversion)

Current
period units started

4,100

units

Ending
inventory

1,100

units (41%
complete as to materials,

19% complete as
to conversion)





Required:



Compute the cost of
goods transferred out and the ending inventory using the weighted-average
method.(Do not round your
intermediate calculations. Round your final answers to nearest whole dollar
value.)


3.



Pacific Ink had
beginning work-in-process inventory of $371,740 on October 1. Of this amount,
$150,760 was the cost of direct materials and $220,980 was the cost of
conversion. The 21,000 units in the beginning inventory were 40 percent
complete with respect to both direct materials and conversion costs.



During
October, 48,000 units were transferred out and 13,000 remained in ending
inventory. The units in ending inventory were 70 percent complete with
respect to direct materials and 40 percent complete with respect to conversion
costs. Costs incurred during the period amounted to $1,170,700 for direct
materials and $1,515,320 for conversion.




Required:

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


4.




Pacific Ink had
beginning work-in-process inventory of $809,670 on October 1. Of this
amount, $438,600 was the cost of direct materials and $371,070 was the cost
of conversion. The 24,000 units in the beginning inventory were 30 percent
complete with respect to both direct materials and conversion costs.


During
October, 54,000 units were transferred out and 14,000 remained in ending
inventory. The units in ending inventory were 75 percent complete with
respect to direct materials and 35 percent complete with respect to
conversion costs. Costs incurred during the period amounted to $1,754,400
for direct materials and $2,102,730 for conversion.



Required:

Compute the costs of
goods transferred out and the ending inventory using the weighted-average
method.(Do not round your
intermediate calculations. Round your final answers to nearest whole dollar
value.)

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