Business, 29.02.2020 01:41 jenkinjack7654

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 80% complete 10,000 Pounds started into production during May 100,000 Pounds completed and transferred out ? Pounds in process, May 31; materials 60% complete; conversion 20% complete 15,000 Cost data: Work in process inventory, May 1: Materials cost $ 1,500 Conversion cost $ 7,200 Cost added during May: Materials cost $ 154,500 Conversion cost $ 90,800 Required: 1. 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. 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.

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Answer from: ethangorrell67

Explanation:

Opening units 10000

Started 100000

110000

Closing -15000

Transferred 95000

Cost Table W.Avg Method

A B C=A+B D E F=D+E G=C/F

Cost Opening cost Total complete Closing Equival Cost

Head cost incurred Cost units WIP ant units P/U

Material 1,500 154,500 156,000 95,000 9,000 104,000 1.50

CC 7,200 90,800 98,000 95,000 3,000 98,000 1.00

2.50

1) equivalent units of production for materials and conversion cost

Material 104,000

conversion cost 98,000

2)cost per equivalent unit for materials and conversion

Material 1.5

conversion cost 1.0

3)cost of ending work in process inventory for materials, conversion, and in total

Material 15000*0.6 9,000

conversion cost 15000*0.2 3,000

12000

D)cost of units transferred out to the next department for materials, conversion, and in total

Complete 95,000

Material 95000*1.5 142500

conversion cost 95000*1.0 95000

237500

Complete 95,000 2.50 237,500

5) Reconciliation

Openiing Wip

Material 10,000 1,500

Labour 8,000 7,200

8,700

Complete 95,000 2.50 237,500

Closing Wip

Material 9,000 1.50 13,500

Labour 3,000 1.00 3,000

16,500

Total Cost 262,700

Answer from: Quest

yup the answer is

Answer from: Quest

They are enjoying the advantage of independence while running their own small business. they can go where they want when they want to, because they control the restaurant's hours. they can also make time for life emergencies, and set the hours to be when they do the best cooking.

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Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactu...

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