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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![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 $ 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb100a019-8e61-48bc-9a14-b514c6f016e4%2F5e87ae0e-8a24-4f5f-9bb0-028413c5b1de%2Ful1aq7r_processed.png&w=3840&q=75)
Transcribed Image Text: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 $ 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.
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