Required information Skip to question [The following information applies to the questions displayed below.] 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 S 21,053 Conversion costs 6,955 Current period costs Direct materials 120, 247 Conversion costs 52, 265 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 44,100 units Ending inventory 12,000 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.
Required information Skip to question [The following information applies to the questions displayed below.] 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 S 21,053 Conversion costs 6,955 Current period costs Direct materials 120, 247 Conversion costs 52, 265 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 44,100 units Ending inventory 12,000 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.
Chapter5: Process Costing
Section: Chapter Questions
Problem 14PB: Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units....
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