The PVC Company manufactures a high-quality plastic pipe that goes through three

Question

The PVC Company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion.

Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places. Omit the "$" sign in your response.)

Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Omit the "$" sign in your response.)

Prepare a cost reconciliation report for the month. (Omit the "$" sign in your response.)

The PVC Company manufactures a high-quality plastic pipe 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 74,000        Pounds started into production during May 390,000        Pounds completed and transferred to
      the next department ?        Pounds in process, May 31:
      materials 70% complete; conversion 30% complete 34,000      Cost data:     Work in process inventory, May 1:         Materials cost $ 98,800            Conversion cost $ 44,000        Cost added during May:         Materials cost $ 513,830            Conversion cost $ 242,130   




Required: 1. Compute the equivalent units of production.
Materials Conversion   Equivalent units of production
2.

Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places. Omit the "$" sign in your response.)

Materials Conversion   Cost per equivalent unit $ $
3.

Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Omit the "$" sign in your response.)

Materials Conversion Total   Cost of ending work in process inventory $         $        $          Cost of units completed and transferred out $         $        $       
4.

Prepare a cost reconciliation report for the month. (Omit the "$" sign in your response.)

  Cost Reconciliation   Costs to be accounted for:       (Click to select)Cost of units completed and transferred outCost of beginning work in process inventoryCost of ending work in process inventory $          (Click to select)Cost of ending work in process inventoryCosts added to production during the periodCost of units completed and transferred out      Total cost to be accounted for $      Costs accounted for as follows:       (Click to select)Cost of beginning work in process inventoryCosts added to production during the periodCost of ending work in process inventory $          (Click to select)Cost of units completed and transferred outCost of beginning work in process inventoryCosts added to production during the period      Total cost accounted for $   


options for Cost accounted/to be accounted for are :

-cost of beginnign WIP Inventory
-costs added to production during the period
-cost of units transferred out

Explanation / Answer

The PVC Company manufactures a high-quality plastic pipe 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 to
      the next department ?        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   
The company uses the weighted-average method.
Required: 1. Compute the equivalent units of production.
Materials Conversion   Equivalent units of production The PVC Company manufactures a high-quality plastic pipe 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 to
      the next department ?        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   
The company uses the weighted-average method.
Required: 1. Compute the equivalent units of production.
Materials Conversion   Equivalent units of production The PVC Company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion.        Information on work in the first department, Cooking, is given below for May:

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

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