Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound thatgoes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below forMay:Production data:Pounds in process, May 1; materials 100% complete;conversion sex completePounds started into production during MayPounds completed and transferred outPounds in process, May 31; materials 6ex complete;conversion 20% complete10,000100,00015,000Cost data:Work in process inventory, May 1:Materials costConversion costCost added during May:Materials costConversion cost%241,500247,200$ 154,500$ 90,800Required: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

Name: Builder Products, Inc., uses the weighted-average method in its proce
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound thatgoes through three processing stages prior to completion. Information on work in the first department, Cooking, is given