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

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Builder Products, Inc., uses the weighted-average method in itsprocess costing system. It manufactures a caulking compound thatgoes through three processing stages prior to completion.Information on work in the first department, Cooking, is givenbelow for May: Production data: Pounds in process, May 1; materials100% complete; conversion 90% complete 83,000 Pounds started intoproduction during May 480,000 Pounds completed and transferred out? Pounds in process, May 31; materials 75% complete; conversion 25%complete 43,000 Cost data: Work in process inventory, May 1:Materials cost $ 128,300 Conversion cost $ 53,900 Cost added duringMay: Materials cost $ 666,940 Conversion cost $ 296,395 Required:1. Compute the equivalent units of production for materials andconversion for May. 2. Compute the cost per equivalent unit formaterials and conversion for May. 3. Compute the cost of endingwork in process inventory for materials, conversion, and in totalfor May. 4. Compute the cost of units transferred out to the nextdepartment for materials, conversion, and in total for May. 5.Prepare a cost reconciliation report for May.

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Requirement 1 Material Conversion Equivalent Units of Production 552250 530750 Requirement 2 Material Conversion Cost per equivalent Unit 144 066 Requirement 3 and 4 Material Conversion Total Units Completed and transferred 748800 343200 1092000 Ending Inventory 46440 7095 53535 See Answer

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