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5. Prepare a cost reconciliation report o vay. Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Required 5 Compute the equivalent units of production for materials and conversion for May. Required 1 Equivalent units of production Materials Conversion Required 1 Required 2 >
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 Conversion Cost per equivalent unit < Required 1 Required 3 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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 2 Conversion Required 4 Total
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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 3 Conversion Required 5 > Total
B 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. 3:05 X 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. ces Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Prepare a cost reconciliation report for May. (Round your intermediate calculations to 2 decimal places.) Required 2 Costs to be accounted for Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: Total cost accounted for < Required 4 Required 5 Required 5
7 "I think we goofed when we hired that new assistant controller," said Ruth Scarpino, president of Provost Industries. "Just look at this report that he prepared for last month for the Finishing Department. I can't understand it." 52:26 Finishing Department costs: Work in process inventory, April 1, 1,6ee units; materials 100% complete; conversion 88% complete Costs transferred in during the month from the preceding department, 3,100 units Materials cost added during the month Conversion costs incurred during the month Total departmental costs Finishing Department costs assigned to: Units completed and transferred to finished goods, 4,100 units at $22.770 per unit Work in process inventory, April 30, 600 units; materials o complete; conversion 40% complete. $ 93,369 。 Total departmental costs assigned $ 93,369 *Consists of cost transferred in. $4,314; materials cost, $2,095; and conversion cost, $2.390. $ 8,799. 36,623 15,617 32,330 $ 93,369 "He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is that he's been away from process costing for a long time, and it's coming back slowly, "It's not just the format of his report that I'm concerned about. Look at that $22.770 unit cost that he's come up with for April. Doesn't that seem high to you?" said Ms. Scarpino. "Yes, it does seem high; but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation, replied Mr. Harrop. "Till get someone else to redo this report and then we can see what's going on." Provost industries manufactures a ceramic product that goes through two processing departments-Moiding and Finishing. The company uses the weighted-average method in its process costing. Required: 1-a. Calculate the equivalent units of production. ante M..... Drew ·lat alat … Next
Required: 1-a. Calculate the equivalent units of production. 1-b. Calculate the cost per equivalent unit. (Round your answers to 2 decimal places.) 1-c. How much cost should have been assigned to the ending work in process inventory? (Round your intermediate calculations to 2 decimal places.) 1-d. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places) 1-a. Equivalent units of production 1-b. Cost per equivalent unit 1-c. Cost of ending work in process inventory 1-d. Cost of units completed and transferred out Transferred In Costs Materials Conversion Total