Bullder Products, Incorporated, uses the weightedaverage 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 ; materials complete;
conversion complete
Pounds started into production during May
Pounds completed and transferred out
Pounds in process, May ; materials complete;
conversion complete
Cost data:
Work in process inventory, May :
Materials cost $
Conversion cost $
Cost added during May:
Materials cost $
Conversion cost $
Required:
Compute the equivalent units of production for materials and conversion for May.
Compute the cost per equivalent unit for materials and conversion for May.
Compute the cost of ending work in process Inventory for materlals, conversion, and in total for May.
Compute the cost of units transferred out to the next department for materlals, conversion, and in total for May.
Prepare a cost reconciliation report for May.
