Reference no: EM131295578
Burnett Company produces a high-quality plastic pipe in two departments, Cooking and Molding. Materials are introduced at various points during work in the Cooking Department. After the cooking is completed, the materials are transferred into the Molding Department, in which the pipe is formed.
Selected data relating to the Cooking Department during February are:
Production data:
Pounds in process February 1: materials 100%
complete; conversion 90% complete…………………… 9,000
Pounds started into production in February …………… 30,000
Pounds completed and transferred to Molding……………20,000
Pounds in process, February 28: materials 75%
complete, conversion 40% complete…………………… ?
Cost data:
Work in process inventory, February 1:
Materials cost…………………………………………... $270,000
Conversion cost……………………………………. …. $36,000
Costs added during February;
Materials...………………………….……………………….. $900,000
Conversion cost………………………………………………. $120,000
Required: Prepare a Production Report using the process costing weighted average equivalent units method for the Cooking department for the month of May.
Include:
Units to account for
Equivalent units
Dollar amounts to account for
Cost per equivalent unit, rounded to the nearest cent; and
Total cost reconciliation for the department.
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