Help Save & Exit Submit Check my work Builder Products, Inc, uses the weighted-a

Question

Help Save & Exit Submit Check my work 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 10 points Production data Pounds in process, May 1; materials 108% complete ; conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 88% complete; 85,800 5ee,00e eBook conversion 20% complete 45,888 Cost data: Print work in process inventory, May 1 Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 135,700 22,806 $ 705,26 $ 120,7460 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. Mc Graw Prey 1of 1 Next > O Type here to search 9/24/20

Explanation / Answer

1 Materials Conversion Units completed and transferred out 540000 540000 Ending goods in process ­ units 36000 9000 Equivalent units of production 576000 549000 2 Materials Conversion Costs of beginning work in process 135700 22000 Costs incurred this period 705260 120740 Total costs 840960 142740 ÷ Equivalent units of production 576000 549000 Cost per equivalent unit of production 1.46 0.26 3 Cost of ending work in Process inventory: Materials 52560 =36000*1.46 Conversion 2340 =9000*0.26 Total 54900 4 Cost of Units completed and transferred out Materials 788400 =540000*1.46 Conversion 140400 =540000*0.26 Total 928800 5 Toal costs to account for: Costs of beginning work in process 157700 Costs incurred this period 826000 Toal costs to account for 983700 Costs accounted for as follows: Cost of Units completed and transferred out 928800 Cost of ending work in Process inventory 54900 Toal costs accounted for 983700

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