The PVC Company manufactures a high-quality plastic pipe 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 90% complete | | 74,000 | Pounds started into production during May | | 390,000 | Pounds completed and transferred to the next department | | ? | Pounds in process, May 31: materials 70% complete; conversion 30% complete | | 34,000 | Cost 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 | 1. | Compute the equivalent units of production. |
2. | Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) |
3. | Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Omit the "$" sign in your response.) |
4. | Prepare a cost reconciliation report for the month. (Omit the "$" sign in your response.) | options for Cost accounted/to be accounted for are : -cost of beginnign WIP Inventory -costs added to production during the period -cost of units transferred out |