User Account

All Pages

Make a cost reconciliation report for may

Assignment Help Managerial Accounting
Reference no: EM132522013

Builder Products, Inc., 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 75,000

Pounds started into production during May 400,000

Pounds completed and transferred out ?

Pounds in process, May 31; materials 75% complete;

conversion 25% complete 35,000

Cost data: Work in process inventory, May 1: Materials cost$102,300

Conversion cost$45,600

Cost added during May:

Materials cost$531,800

Conversion cost$250,575

Required:

Question 1. Compute the equivalent units of production for materials and conversion for May.

Question 2. Compute the cost per equivalent unit for materials and conversion for May.

Question 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May.

Question 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May.

Question 5. make a cost reconciliation report for May.

Reference no: EM132522013

Questions Cloud

Calculate pressure right above the roof of an enclosed house : Typical air density in Boulder is 1.14 kg/m?3?, and the corresponding atmospheric pressure is 8.89 ?x? 10?4? N/m?2?.
What would have been the spending variance for supply costs : Brayboy Tile Installation, The actual supply cost last month was $4,300. What would have been the spending variance for supply costs last month?
What the amount should Orlando report : Both Brad purchased and Benjamin sales were in transit at year-end. What the amount should Orlando report as its June 30 inventory
Comparing hobbes and locke on the state of nature : Analyze the concept of the state of nature by first reviewing the material on Thomas Hobbes and John Locke.
Make a cost reconciliation report for may : Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. make a cost reconciliation report for May.
Compute ending inventory using three cost flow methods : Compute ending inventory using three cost flow methods and then determine which one is the best cost method for Orlando
Elements of american democracy : Compare and contrast the elements of American democracy with the critiques or support of democracy presented by ancient and classical political theorists.
Prepare one incremental analysis for make-or-buy decision : Prepare one incremental analysis, assuming the released facilities (freed-up space) can be used to produce $15,000 of net income in addition
How much interest should mike collect from the buyer : Word Lab Limited issues $200,000 of its 9% bonds at par on April 1, which is 4 months after the original issue date. How much interest should Mike collect

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Implementing the target costing approach

To implement target costing for a new product, companies often set up a cross-functional team with members from engineering, marketing, and costing accounting. Why is a cross-functional team desirable when implementing the target costing approach..

  Which can be classified as an asset and liability

Which can be classified as an Asset and Liability, Stockholders Equity, Revenue or Expense item? Accounts Payable, Equipment.

  The statement of cash flows using the direct method

The following accounts and corresponding balances were drawn from Geneses Company's 2014 and 2013 year-end balance sheets:

  Analyze the limitations of activity based costing

Compute the Activity Rate for each activity cost pool. Did you compute an activity rate for all of the activity cost pools?Analyze the limitations of ABC

  Prepare a manufacturing budget

Complete the Sales Budget on the Budgets tab below by using the information found in the budgeted balance sheet - Complete the Production Budget on the Budgets

  How much advertising would be allocated to the irvine center

Advertising effort and consistent with sound managerial accounting practices. How much advertising would be allocated to the Irvine center?

  Question on segment margin

Martin Company is a two-division firm and has following information available for this year:

  Identify two potential problems that could arise

Identify two behavioural advantages that could arise and identify two potential problems that could arise.

  Problem - Creating a spreadsheet

Problem - Creating a spreadsheet. The building of each desk combo requires 12 board feet of pine planks which cost $0.70 per foot

  Find electric cars charging satiations

Are there any federal and state incentives for electric cars owners or buyers? If yes, explain detailing how much, location, pump, average size

  Compute indirect cost allocation rate per check processed

Assuming that there are only indirect costs and no direct costs, compute the average profit per account for retail customers and for business customers.

  Determine the monetary amount colburn should report

Determine the monetary amount Colburn should report for its inventory account as of December 31. The Colburn Company has three products in its inventory

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd