1 answer

Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking...

Question:

Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May:

 Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete 60,000 Pounds started into production during May 250,000 Pounds completed and transferred out ? Pounds in process, May 31; materials 60% complete; conversion 40% complete 20,000 Cost data: Work in process inventory, May 1: Materials cost $59,000 Conversion cost$ 23,400 Cost added during May: Materials cost $306,420 Conversion cost$ 128,580

Required:

1. Compute the equivalent units of production for materials and conversion for May.

Materials conversion

equivalent units of production

2. Compute the cost per equivalent unit for materials and conversion for May.

Materials conversion

cost per equivalent unit

3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May.

Materials conversion total

cost of ending work in process inventory

4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May.

Materials conversion total

cost of units transferred out

5. Prepare a cost reconciliation report for May.

Cost Reconciliation

 cost to be accounted for Answer answr answr answr total cost to be accounted for Costs accounted for as follows: answr answr answr answr Total cost accounted for

Answers

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