Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $85,000 of manufacturing overhead for an estimated activity level of $50,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: 10,70 Raw materials Work in process Finished goods S 4,900 8,800 During the year, the following transactions were completed: a. Raw materials purchased for cash, S 169,000. b. Raw materials used in production, $140,000 (materials costing $125,000 were charged directly to jobs; the remaining materials were indirect) c. Cash paid to employees as follows: 4. Compute the Casing and Curing Department's cost of units transferred out to the Packaging Department for mixing, materials, conversion, and in total for September. (5 points) 5. Prepare a cost reconciliation report for the Casing and Curing Department for September. (5 points) Builder 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: efirst department, Cooking 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 60% complete; 84,000 490,000 conversion 40% complete 44,000 Cost data: Work in process inventory, May 1 Materials cost Conversion cost Cost added during May Materials cost Conversion cost 130,200 S 21,100 S 676,580 S 115,800 Required 1. Compute the equivalent units of production for materials and conversion for May. (5 points) 2. Compute the cost per equivalent unit for materials and conversion for May. (5 points) 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May. (5 points) 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May (5 points) 5. Prepare a cost reconciliation report for May. (5 points)