The Matsui Lubricants plant uses the FIFO 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   542   Current period costs       Direct materials   23,520   Conversion costs   16,555       Quantity information is obtained from the manufacturing records and includes the following.           Beginning inventory 750 units (60% complete as to materials, 56% complete as to conversion) Current period units started 5,800 units   Ending inventory 2,000 units (40% complete as to materials, 30% complete as to conversion)   Compute the cost of goods transferred out and the ending inventory using the FIFO method. (Do not round intermediate calculations.)

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 $ 980   Conversion costs   557   Current period costs       Direct materials   27,220   Conversion costs   16,803       Quantity information is obtained from the manufacturing records and includes the following.           Beginning inventory 800 units (65% complete as to materials,56% complete as to conversion) Current period units started 5,900 units   Ending inventory 1,500 units (45% complete as to materials,15% complete as to conversion)   Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and conversion costs.

Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below:     Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 3,400 85 87 Work-in-process inventory — June 30 4,700 60 37 Started processing during June 9,600       Total equivalent units for materials under the weighted-average method are calculated to be:   Multiple Choice   10,496 equivalent units.   8,010 equivalent units.   11,120 equivalent units.   7,865 equivalent units.   10,039 equivalent units.

Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows:Bal., 800 units, 30% completed:Direct materials (800 × $4.30)                          $ 3,440Conversion (800 × 30% × $1.75)                           420                                                                          $ 3,860From Cooking Department, 7,800 units           $34,320Direct labor                                                           8,562Factory overhead                                                  6,387During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed.Charges to Work in Process—Filling for May were as follows:From…

shobha

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 $ 27,553 Conversion costs 8,905 Current period costs   Direct materials 166,592 Conversion costs 86,000 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 45,400 units   Ending inventory 25,000 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. Note: Do not round intermediate calculations.

Give true answer

Debco limited is a leading manufacturer of tables in the area. The following information was extracted from the books for the current period which 800 tables were produced, Prepare a manufacturing account for Debco limited for the period ending May 31,201. Also calculate the production cost per unit of tables and the total cost per unit to produce tables. Work in progress inventory, beginning of year $32,400 Raw materials inventory, beginning of year $42,000 Finished goods inventory, beginning of year $90,000 Sale $1376400 Indirect labour $80,000 Sale commission expense $165,168 raw materials purchased (net) $441,600 carriage on raw materials $5,000 rent of plant  $20640 advertising expense $30,000 factory supplies used $41,400 Depreciation - Office equipment $59,400 Direct labour $236,400 Plant utilities- electricity and water rates $16,440 administrative office salaries $188,640 insurance on plant $10920

Fortune Company had beginning raw materials inventory of $9,900. During the period, the company purchased $55,500 of raw materials on account. If the ending balance in raw materials was $6,900, the amount of raw materials transferred to work in process is: Multiple Choice $52,500. $58,500. $55,500. $62,400.