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Builder Products, Incorporated, uses the weighted - average method of process costing. It manufactures a caulking compound that goes through three processing stages prior to

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Builder Products, Incorporated, uses the weighted-average method of process costing. 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 180% complete; conversion
,,90% complete 87,000
,Pounds started into production during May 520,080
,Pounds completed and transferred out
,Pounds in process, May 31; materials 75% complete; conversion
,,,25% complete
,cost data:
,,Work in process Inventory, May 1:
,,,Materials cost ,$142,10 B
,,,Conversion cost $63,300
,,Cost added during May:
,,,Materials cust $738,870
,,, Conversion cost $348,368
Required:
For May:
Compute the equivalent units of production fo materials and conversion.
Compute the cost per equivalent unit for materials and conversion.
Compule the cost of ending work in process inventory for materlals, conversion, and in total.
Compute the cost of units transterred out to the next department for materials, conversion, and in lotal.
Prepare a cost reconciliation renort
Required 1
Required 2
Required 3
Required 4
Required 5
Compute the equivalent units of production for materials and conversion for May.
\table[[,Materials,Conversion],[,,]]
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Required 3
Required 4
Required 5
Compute the cost per equivalent unit for materlals and conversion for May.
Note: Round your answers to 2 decimal places.
Compute the cost of ending work in process inventory for materials, conversion, and in total for May. Note: Round your intermediate calculations to 2 decimal places.
Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. Note: Round your intermediate calculations to 2 decimal places.
Required 1
Required 2
Required 3
Required 4
Required 5
Prepare a cost reconciliation report for May.
Note: Round your intermediate calculations to 2 decimal places.
\table[[Cost Reconciliation],[Costs to be accounted for:,],[,],[Total cost to be accounted for,$
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