Builder Products, Inc, uses the weighted-average method in its process costing s

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 1 0% complete; 76,800 conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 63% complete; conversion 40% complete 36,000 Cost data: Work in process inventory, May 1: Materials cost Conversion cost $117,900 53,600 s Cost added during May: Materials cost Conversion cost $613,080 $294, 780 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

Explanation / Answer

1) Equivalent unit :

2) Cost per equivalent unit :

3) Calculate cost of ending work in process

4) Calculate cost of units transferred out

5) Cost reconciliation :

Material Conversion Units transferrred out 450000 450000 Ending work in process 36000*60% = 21600 36000*40% = 14400 Total equivalent unit 471600 464400

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.