SHOW WORK PLEASEProblem 4-16 Comprehensive Problem-Weighted-Average Method[LO4-2, LO4-3, LO4-4, LO4-5]Builder Products,Inc., uses...SHOW WORK PLEASEProblem...

70.2K

Verified Solution

Question

Accounting

SHOW WORK PLEASE
Problem 4-16 Comprehensive Problem-Weighted-Average Method[LO4-2, LO4-3, LO4-4, LO4-5]
Builder Products,Inc., uses the weighted-average method in its process costingsystem. It manufactures a caulking compound that goes through threeprocessing stages prior to completion. Information on work in thefirst department, Cooking, is given below for May:
Productiondata:
Pounds inprocess, May 1; materials 100% complete;
conversion 90% complete 76,000
Pounds startedinto production during May 410,000
Pounds completedand transferred out ?
Pounds inprocess, May 31; materials 60% complete;
conversion 40% complete 36,000
Cost data:
Work in processinventory, May 1:
Materialscost $ 117,900
Conversioncost $ 53,600
Cost addedduring May:
Materialscost $ 613,080
Conversioncost $ 294,700
Required:
1. Compute theequivalent units of production for materials and conversion forMay.
2. Compute the costper equivalent unit for materials and conversion for May.
3. Compute the cost ofending work in process inventory for materials, conversion, and intotal for May.
4. Compute the cost ofunits transferred out to the next department for materials,conversion, and in total for May.
5. Prepare a costreconciliation report for May.

Answer & Explanation Solved by verified expert

3.8 Ratings (310 Votes)

1 Compute the equivalent units of production for materials and conversion for May Unit transferred out 7600041000036000 450000 Equivalent unit of material 4500003600060 471600 Equivalent unit of conversion See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text

In: AccountingSHOW WORK PLEASEProblem 4-16 Comprehensive Problem-Weighted-Average Method[LO4-2, LO4-3, LO4-4, LO4-5]Builder Products,Inc., uses...SHOW WORK PLEASEProblem 4-16 Comprehensive Problem-Weighted-Average Method[LO4-2, LO4-3, LO4-4, LO4-5]Builder Products,Inc., uses the weighted-average method in its process costingsystem. It manufactures a caulking compound that goes through threeprocessing stages prior to completion. Information on work in thefirst department, Cooking, is given below for May:Productiondata:Pounds inprocess, May 1; materials 100% complete;conversion 90% complete76,000Pounds startedinto production during May410,000Pounds completedand transferred out?Pounds inprocess, May 31; materials 60% complete;conversion 40% complete36,000Cost data:Work in processinventory, May 1:Materialscost$117,900Conversioncost$53,600Cost addedduring May:Materialscost$613,080Conversioncost$294,700Required:1. Compute theequivalent units of production for materials and conversion forMay.2. Compute the costper equivalent unit for materials and conversion for May.3. Compute the cost ofending work in process inventory for materials, conversion, and intotal for May.4. Compute the cost ofunits transferred out to the next department for materials,conversion, and in total for May.5. Prepare a costreconciliation report for May.


Productiondata:
Pounds inprocess, May 1; materials 100% complete; conversion 90% complete		76,000
Pounds startedinto production during May		410,000
Pounds completedand transferred out		?
Pounds inprocess, May 31; materials 60% complete; conversion 40% complete		36,000
Cost data:
Work in processinventory, May 1:
Materialscost	$	117,900
Conversioncost	$	53,600
Cost addedduring May:
Materialscost	$	613,080
Conversioncost	$	294,700