Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

v:::- Managerial Accounting X m Question 7 - Exam 1- Cor X ':::l Assignments: 2023SP AC X u Homework Help - Q&A fre X &

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
v:::- Managerial Accounting X m Question 7 - Exam 1- Cor X ':::l Assignments: 2023SP AC X u Homework Help - Q&A fre X & Google Translate X G acc misc course - Google X S > C 5 ezto.mheducation.com/ext/map/index.html|?_con=con&external_browser=08&launchUrl=https%253A%252F %252FIms.mheducation.com%252Fmghmiddleware%252Fmhepro... Y e : M Gmail By Traducir 2P Maps @B YouTube | Netflix % Dashboard (@ Dashboard - Readi.. & iLovePDF | Herram... (9 Resoomer|Resum... [J] myHerbalife.com CJ Mail - Rudelkis Pol... [ All Bookmarks Exam 1 o Saved Help Save & Exit Submit Builder Products, Incorporated, uses the weighted-average method of process costing. 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; eBook conversion 90% complete 90,000 Pounds started into production during May 550,000 Pounds completed and transferred out 7 Pounds in process, May 31; materials 70% complete; conversion 30% complete 50,000 Cost data: Work in process inventory, May 1: Materials cost $ 152,300 Conversion cost $ 63,300 Cost added during May: Materials cost $ 791,450 Conversion cost $ 348,100 Required: For May: 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. Complete this question by entering your answers in the tabs below. E Required 1 g Required 2 Required 3 Required 4 Required 5 E Compute the equivalent units of production for materials and conversion for May. % > All Bookmarks Exam 1 i Saved Help Save & Exit Submit LUSL uald: Work in process inventory, May 1: Materials cost $ 152, 300 7 Conversion cost $ 63,300 Cost added dur Materials cost $ 791, 450 Conversion cost $ 348, 100 Required: For May: eBook 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. 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 1 Required 2 > Mc Graw HillManagerial Accounting X M Question 7 - Exam 1 - Con x Assignments: 2023SP AC X Homework Help - Q&A fro x x Google Translate X G acc misc course - Google X + G 9 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhepro... M Gmail x Traducir Maps YouTube N Netflix Dashboard Dashboard - Readi... iLovePDF | Herram... 0o Resoomer | Resum... myHerbalife.com 9Mail - Rudelkis Pol... > > All Bookmarks Exam 1 i Saved Help Save & Exit Submit LUSL uald: Work in process inventory, May 1: Materials cost $ 152, 300 7 Conversion cost $ 63,300 Cost added dur Materials cost $ 791, 450 Conversion cost $ 348, 100 Required: For May: eBook 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the cost per equivalent unit for materials and conversion for May. Note: Round your answers to 2 decimal places Materials Conversion Cost per equivalent unit Mc Graw HillManagerial Accounting X M Question 7 - Exam 1 - Con x Assignments: 2023SP AC X Homework Help - Q&A fro x x Google Translate X G acc misc course - Google X + G 9 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhepro... M Gmail x Traducir Maps YouTube N Netflix Dashboard Dashboard - Readi... iLovePDF | Herram... 0o Resoomer | Resum... myHerbalife.com 9Mail - Rudelkis Pol... > > All Bookmarks Exam 1 i Saved Help Save & Exit Submit LUSL uald: Work in process inventory, May 1: Materials cost $ 152, 300 7 Conversion cost $ 63,300 Cost added dur Materials cost $ 791, 450 Conversion cost $ 348, 100 Required: For May: eBook 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. 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. Note: Round your intermediate calculations to 2 decimal places Materials Conversion Total Cost of ending work in process inventory Mc Graw HillX M Question 7 - Exam 1 - Con x Assignments: 2023SP AC X Homework Help - Q&A fro x x Google Translate X G acc misc course - Google X + Managerial Accounting G 9 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhepro... M Gmail x Traducir Maps YouTube N Netflix Dashboard Dashboard - Readi... iLovePDF | Herram... 0o Resoomer | Resum... myHerbalife.com 9Mail - Rudelkis Pol... > > All Bookmarks Exam 1 i Saved Help Save & Exit Submit LUSL uald: Work in process inventory, May 1: Materials cost $ 152, 300 7 Conversion cost $ 63,300 Cost added dur Materials cost $ 791, 450 Conversion cost $ 348, 100 Required: For May: eBook 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. 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. Note: Round your intermediate calculations to 2 decimal places. Materials Conversion Total Cost of units completed and transferred out Mc Graw HillManagerial Accounting X M Question 7 - Exam 1 - Con x Assignments: 2023SP AC X Homework Help - Q&A fro x x Google Translate X G acc misc course - Google X + G 20 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmhepro... M Gmail Traducir Maps YouTube N Netflix Dashboard Dashboard - Readi.. iLovePDF | Herram... oo Resoomer | Resum... myHerbalife.com 9Mail - Rudelkis Pol... > > All Bookmarks Exam 1 i Saved Help Save & Exit Submit 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 7 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a cost reconciliation report for May. Note: Round your intermediate calculations to 2 decimal places. Cost Reconciliation Costs to be accounted for: Total cost to be accounted for $ Costs accounted for as follows: Total cost accounted for $ Mc Graw Hill

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-13

Authors: John Price, M David Haddock, Michael Farina

13th Edition

007743062X, 9780077430627

More Books

Students also viewed these Accounting questions

Question

What is the formula used for computing BIC?

Answered: 1 week ago

Question

Technology

Answered: 1 week ago

Question

Population

Answered: 1 week ago