Builder Products, Incorporated, uses the welghted 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 71,000 360,000 2 Production datai Pounds in process, May 1; materials 100% complete conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 75 complete conversion 256 complete Cost data: Work in process inventory, May 11 Materials cost Conversion cost Cost added during May Materials cost Conversion cost 31,000 $ 90,100 $ 46,400 $ 468,590 $ 255,335 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the equivalent units of production for materials and conversion for May Conversion Materials 423,2501 Equivalent units of production BRE 2 Draw 3o 3 Next 3 Builder Products, Incorporated, 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: 71.000 360,000 2 DO Production data: Pounds in process, May 1: materials 100 complete conversion 90% complete Pounds started into production during May Pounds completed and trannterred out Pounds in process, May 31: materials 75t complete conversion 256 complete Cost data: Work in process inventory, May 11 Materials cost Conversion cont Cost added during May Materials cont Conversion cost 31,000 int -onces $ 90,100 $ 46,400 $.468,590 $ 255,335 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 2 Compute the cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Conversion Materials $ 1.32 Cost per equivalent unit
