Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bulldes Products, Inc., uses the weighted average method in its process costing system It manufactures a caulking compound that goes through three processing stages prior

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Bulldes Products, Inc., 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 65,000 300,000 Production data Poundi in process, May 11 materials 100% complete conversion complete Pounds started into production during May Pounds cool and transferred out Pounds in process, May 31 waterials to complete Conversion complet Cost dat Waren process inventory, May 1 Hatortals cout Conversion root Cast added durine May 25,000 573,200 $24.400 Conversion cost $ 180,400 $134,100 Required: 1. Compute the effuivalent units of production for materials and conversion for May 2. Compute the cost per equivalent unit for materials and conversion for May 1. 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 Materials Conversion Equivalent units of production ROL Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Compute the cost per equivalent unit for materials and conversion for May (Round your answers to 2 decimal Materials Conversion Cost per equivalent unit Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required S Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. (Round your Intermediate calculations to 2 decimal places) Materials Conversion Total Cost of units completed and transferred out Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a cost reconciliation report for May. (Round your intermediate calculations to 2 decimal places.) Cost Reconciliation Costs to be accounted for $ 0 Total cost to be accounted for Costs accounted for as follows Total cost accounted for $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Essential Controller An Introduction To What Every Financial Manager Must Know

Authors: Steven M. Bragg

2nd Edition

1118169972, 9781118169971

More Books

Students also viewed these Accounting questions

Question

=+c) What are the factors?

Answered: 1 week ago