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Can you give me the answer? I attached the files. Thanks. Builder Product Company manufactures a caulking compound that goes through three processing stages prior
Can you give me the answer? I attached the files. Thanks.
Builder Product Company 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: Kilograms in process, May 1 (Materials 75% complete; conversion 25% complete) Kilograms started into production during May Kilograms completed and transferred out Kilograms in process May 31 (Materials 60% complete Conversion 20% complete) 20,000 100,000 ? 30,000 Cost data: Work in process inventory. May 1 -Malarial cost $30,000 -Conversion cost $15,000 Cost added during May: -Materials cost $142,800 -Conversion cost $90,600 The company uses the weighted-average method. Required: (1) Compute the equivalent units for May for the first process (2) Compute the cost per equivalent unit for May for the first process (3) Determine the total cost of ending work in process inventory (4) Determine the total cost of units transferred to the next process in May (5) Computer the equivalent units for May, assuming that the company uses FIFO method (6) Compute the cost per equivalent unit for May, assuming that the company uses FIFO method (7) Determine the total cost of ending work in process inventory, assuming that the company uses FIFO method assuming that the company uses FIFO method (8) Determine the total cost of units transferred to the next process in May (9) Prepare a cost reconciliation report for the month under weighted average method and FIFO methodStep by Step Solution
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