Business, 20.02.2020 05:11 eggemotions

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:

Production data:
Pounds in process, May 1; materials 100% complete; conversion 90% complete 83,000
Pounds started into production during May 480,000
Pounds completed and transferred out ?
Pounds in process, May 31; materials 75% complete; conversion 25% complete 43,000
Cost data:
Work in process inventory, May 1:
Materials cost $128,300
Conversion cost $53,900
Cost added during May:
Materials cost $666,940
Conversion cost $296,395
Required:

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

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

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

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

5. Prepare a cost reconciliation report for May

Answers: 1

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Builder Products Inc. uses the weighted-average method in its process costing system.

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