Builder Products, Inc., 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:
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| Production data: |
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Pounds in process, May 1; materials
100% complete; conversion 90% complete |
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79,000 |
| Pounds started into production during May |
|
440,000 |
| Pounds completed and transferred out |
|
? |
Pounds in process, May 31:
materials 75% complete; conversion 25% complete |
|
39,000 |
| Cost data: |
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| Work in process inventory, May 1: |
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| Materials cost |
$ |
100,200 |
| Conversion cost |
$ |
12,100 |
| Cost added during May: |
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|
| Materials cost |
$ |
521,085 |
| Conversion cost |
$ |
66,260 |
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| The company uses the weighted-average method. |
| 1. |
Compute the equivalent units of production. |
| 2. |
Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.)
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| 3. |
Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Round your intermediate calculation to 2 decimal places.)
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| 4. |
Prepare a cost reconciliation report for the month.
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