The matsui lubricants plant uses the weighted-average, Ask an Expert

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 $ 1,946
Conversion costs 620
Current period costs
Direct materials 22,850
Conversion costs 12,782

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

Beginning inventory 600 units (60% complete as to materials,
48% complete as to conversion)
Current period units started 3,600 units
Ending inventory 1,100 units (40% complete as to materials,
20% complete as to conversion)

Required:
Compute the cost per equivalent unit for direct materials and conversion costs using the weighted-average method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M948348

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