Reference no: EM131818337

Question - Comprehensive Problem Weighted-Average Method                                                                                           

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 - 70,000

Pounds started into production during May - 350,000

Pounds completed and transferred to the next department -?

Pounds in process, May 31: materials 75% complete; conversion 25% complete - 40,000

Cost data:                                                                           

Work in process inventory, May 1:                                           

Materials cost                                                                   $86,000

Conversion cost                                                               $36,000

Cost added during May:                                                                

Materials cost                                                                   $447,000

Conversion cost                                                               $18,000

The company uses the weighted-average method.

Determine the cost of ending work in process inventory and of the units transferred out to the next department. Give details.