Hello. I would like some help on these questions. Thank you in advance
Builder Products, Inc., uses the weighted average method in its process costing system. It manufactures a caulking compound the goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below fo May: Production data: Pounds in process, May 1; materials 1008 complete; conversion 90: complete 74,000 Pounds started into production during May 390,000 Pounds completed and transferred out Pounds in process, May 31; materials 70: complete; conversion 308 complete 34, 000 Cost data: Work in process inventory, May 1: Materials cost 96, 800 Conversion cost $ 44,000 Cost added during May: Materials cost $513, 830 Conversion cost $242, 130 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. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of ending work in process inventory 32,130 6,6305 860,000(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: Production data: Pounds in process, May 1; materials 1008 complete; conversion 90% complete 74, 000 Pounds started into production during May 390,000 Pounds completed and transferred out Pounds in process, May 31; materials 70: complete; conversion 304 complete 34,000 Cost data: Work in process inventory, May 1: Materials cost $ 98, 800 Conversion cost $ 44,000 Coat added during May: Materials cost $513, 830 Conversion cost $242, 130 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. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 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 but 32,130 *5 6,630 5 860,000Builder 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: Production data: Pounds in process, May 1; materials 100 complete; conversion 908 complete 74, 000 Pounds started into production during May 390,000 Pounds completed and transferred out Pounds in process, May 31; materials 70: complete; conversion 308 complete 34,000 Coat data: Work in process inventory, May 1: Materials cost $ 98, 800 Conversion cost $ 44,000 Cost added during May: Materials cost $513, 830 Conversion cost $242, 130 Required: 1. Compute the equivalent units of production for materials and conversion for May. 2. Compute the cost per equivalent unit for materials and conversion for May. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. 5. Prepare a cost reconciliation report for May. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a cost reconciliation report for May ( Round your intermediate calculations to 2 decimal places. ) Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory ($ 142,800() Costs added to production during the period 755,960 Total cost to be accounted for 5 898,760 Costs accounted for as follows Cost of ending work in process inventory 5 860,000 X Cost of units completed and transferred out 38,760(X Total cost accounted for 5 890,760
