12 2012 Required information [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 Conversion costs Current period costs Direct materials Conversion costs Beginning inventory Current period units started Ending inventory $ 20,553 6,805 Quantity information is obtained from the manufacturing records and includes the following: 225,147 117,460 Costs of goods transferred out Costs in ending inventory 6,000 units (40% complete as to materials, 15% complete as to conversion) 44,000 units 11,000 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.
12 2012 Required information [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 Conversion costs Current period costs Direct materials Conversion costs Beginning inventory Current period units started Ending inventory $ 20,553 6,805 Quantity information is obtained from the manufacturing records and includes the following: 225,147 117,460 Costs of goods transferred out Costs in ending inventory 6,000 units (40% complete as to materials, 15% complete as to conversion) 44,000 units 11,000 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ajt.4
![12
Part 2 of 2
Required information
[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
Conversion costs
Current period costs
Direct materials
Conversion costs.
Beginning inventory
Current period units started
Ending inventory
$ 20,553
6,805
Quantity information is obtained from the manufacturing records and includes the following:
225,147
117,460
Costs of goods transferred out
Costs in ending inventory
6,000 units (40% complete as to materials, 15% complete as to conversion)
44,000 units
11,000 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F46924923-9b5d-45ba-84b0-ebcd9a2f5d66%2F8b43b510-ce37-47d3-92f4-c610b8d03946%2F390tnss_processed.jpeg&w=3840&q=75)
Transcribed Image Text:12
Part 2 of 2
Required information
[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
Conversion costs
Current period costs
Direct materials
Conversion costs.
Beginning inventory
Current period units started
Ending inventory
$ 20,553
6,805
Quantity information is obtained from the manufacturing records and includes the following:
225,147
117,460
Costs of goods transferred out
Costs in ending inventory
6,000 units (40% complete as to materials, 15% complete as to conversion)
44,000 units
11,000 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.
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