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Question:4

3 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 10 points Skipped 74,000 390,000 7 Production data: Pounds in process, May 1: materials 100% complete: conversion 989 complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31: materials 70% complete; conversion 304 complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 34,000 eBook $ 98,800 $ 44,000 References $513, 830 $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. 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 Required 2 > 3 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 no points Skipped 74,000 390,000 Production data: Pounds in process, May 1; materials 100% complete; conversion 909 complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 70% complete; conversion 305 complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 34,000 eBook $ 98,800 $ 44,000 References $513,830 $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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required a Required 4 Required Compute the cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit (Required 1 Required 3 > 3 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: 10 points Skipped 74.000 390,000 7 Production data: 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 705 complete; conversion 30 complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May Materials cost Conversion cost 34,000 eBook $ 98,800 $ 44,000 References $513, 838 $242, 138 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required 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 3 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: 10 points Skipped 74,000 390,000 ? Production data: 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 70% complete; conversion 30% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 34,000 eBook References $ 98,800 $ 44,000 $513,830 $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, 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 out 3 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 10 points Shippers 74,000 390,000 7 Production data: Pounds in process, May 1; materials 1004 complete: conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 74 complete: conversion 30% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May! Materials cost Conversion cost 34,000 eBook $ 98,800 $ 44,000 References $513,830 $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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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 Total cost to be accounted for Costa accounted for as follows: Total cost accounted for