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

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Builder Products Incorporated Uses The Weighted Average Method In Its Process Costing System It Manufactures A Caulki 1 (35.98 KiB) Viewed 26 times

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Builder Products, Incorporated, 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 Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 80% complete; conversion 20% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 77,000 420,000 7 37,000 Complete this question by entering your answers in the the hole $ 130,300 $61,100 $ 677,540 $336,190 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.

onciliation report for May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the equivalent units of production for materials and conversion for May. Materials Equivalent units of production Conversion

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Cost per equivalent unit Conversion

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Cost of ending work in process inventory Materials Required 5 Conversion Total

Required 1 Required 2 Required 3 Required 4 Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Cost of units completed and transferred out Materials Required 5 Conversion Total

Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 5 Prepare a cost reconciliation report for May. (Round your intermediate calculations to 2 decimal places.) Cost Reconciliation Required 1 Required 2 Costs to be accounted for: Total cost to be accounted for Costs accounted for as follows: Total cost accounted for $ 0