PROCESS COSTING PROBLEM

PEPE Products, manufactures CAULKING compound that goes through three processing departments prior completes. Information on work in the first department, Cooking in give below:

PRODUCTION DATA:

Pounds in process May 1, Materials 100% complete

Convertion 80% complete 10,000

Pounds started into production during May 100,000

Pound completed and transferred _____________ ???

( determine the pounds or units completed an tansferred)

Pounds in process. May 31: Material 60% complete

Convertion 20% complete .. 15,000

COST DATA:

Work in process, inventory, May 1

• Materials . $ 1,500
• Convertion $ 7,200

COST ADDED DURING MONTH

• Materials $154,500
• Convertion .. $ 90,800

Prepare a cost reconciliation report for the month