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Determine the cost of ending work in process inventory and

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Reference no: EM13579468

Builder Products, Inc., 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
79,000   
    Pounds started into production during May
440,000   
    Pounds completed and transferred out
?   
    Pounds in process, May 31:
      materials 75% complete; conversion 25% complete
39,000   
  Cost data:

    Work in process inventory, May 1:

        Materials cost $ 100,200   
        Conversion cost $ 12,100   
    Cost added during May:

        Materials cost $ 521,085   
        Conversion cost $ 66,260   

The company uses the weighted-average method.
Required:
1. Compute the equivalent units of production.

2.

Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.)

3.

Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Round your intermediate calculation to 2 decimal places.)

4.

Prepare a cost reconciliation report for the month.

Reference no: EM13579468

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