## Question

###### Builder Products, Inc., uses the weighted average method in its process costing system. It manufactures a...

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: 86,000 510,000 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 705 complete conversion 301 complete Cost data: Work in process inventory, May 11 Materials cost Conversion cost Cost added during May Materials cost Conversion cost 55.000 $ 98,200 $ 62,600 $510,275 $344,375 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.

## Answers

3 Cost of Ending work in Progren Ending wip & 40425 38500X1.05 16500X $0.73 $ 12045 Material Conversion Total cost of Ending WIP $52,470 (541000x$1.05) (541000X $0.73) 4) Cost of goods transfered out Units completed and tof ou Material $ 5,6 8,050 Convasion $394930 Total cost of units $962980 completa & tof out Cost Reconciliation Report Cost of beginning will Cost added to proan during period Total cost to be awunted for 5) $ 160800 $854650 the $1015450 1 $ 962980 $ 52470 Cost amounted for Cost of units completed & Toolout Cost of ending work in procen Total cost of to be anounted for $1015430Conversion 1) Equivalent uits for Material and conversion cost Equivalent une units to be amounted for Physical unch Matuial Units completed & tot out 541000 54100o Work 55000 38500 596000 579500 55 7500 541000 16500 Ending work in Procen Total units Ments completed and transfered out = - Beginning WIP + Started into production Ending wil 86000 + 570000 550oo 541000 Ending WIP - uunds us and WIP & Percentage compect Materials conversion 55000 X 70% 55000 x 30 %. 2 Cost per Equivalent Uno Material conversion Total $ 98200 $ 62600 $ 160800 $344,375 $854650 month $5,10,275 $ 608475 $406975 $1015450 Cost to be accounted for: Beginning WIP cost added during Total cost (A) Equivalent units (B) Cost per unit (A/B) 579500 557500 1.05 0.73Method. Production report using Weighted Average Physical units : Units to be amounted for Beginning Work in procen Started into production Total unchs amounted for 86,000 (Given) 510000 (Givend 596000

#### Similar Solved Questions

1 answers

##### Use Cramer's Rule to solve the system of equations. If D=0, use another method to determine...

Use Cramer's Rule to solve the system of equations. If D=0, use another method to determine the solution set. x + y = 8 x - y = 4 Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. The solution set is O. (Simplify your answer. Type an ordered ...

1 answers

##### Hey guys, Thanks so much for helping me out! Please show me all the work, as...

Hey guys, Thanks so much for helping me out! Please show me all the work, as I want to learn! John invested the following amounts in three stocks: Security Investment Beta Stock A 1.20 $562,900 $748.170 Stock B 1.54 Stock C $361,712 2.03 Calculate the beta portfolio....

1 answers

##### Question 17 Not yet answered Calculate the increase of entropy (in J/K) when 73 g of...

Question 17 Not yet answered Calculate the increase of entropy (in J/K) when 73 g of ice melts at 0 °C and 1 atm. (The heat of fusion for ice is 6,000 J/mol.) Marked out of 1.00 Answer: P Flag question Calculate the change in entropy (in J/K) when 98.2 g of water is heated from 28.7 °C to 76...

1 answers

##### One of your clients in post-operative unit complains of severe pain on his surgical site. List...

One of your clients in post-operative unit complains of severe pain on his surgical site. List a Non-opiod and an Opiod medication that could be given to manage pain. Drug When to withhold?...

1 answers

##### Why should policymakers care about the macroeconomic fundamentals?

Why should policymakers care about the macroeconomic fundamentals?...

1 answers

##### How does microeconomics fit into this definition of Strategic Advocacy?

How does microeconomics fit into this definition of Strategic Advocacy?...

1 answers

##### In your kitchen at home, your mom has commissioned you to install a shelf using a...

In your kitchen at home, your mom has commissioned you to install a shelf using a 30 cm x 80 cm table, two 27 cm x 27 cm square supports on each side. When you review the supports, you realize that you have to add a piece of wood to each of them (segment j). The small piece of wood runs on both side...

1 answers

##### A stock index is currently 1 ,500. Its volatility is 18%. The risk-free rate is 4%...

A stock index is currently 1 ,500. Its volatility is 18%. The risk-free rate is 4% per annum (continuously compounded) for all maturities and the dividend yield on the index is 2.5% Calculate values for u, d, and p when a 6-month time step is used. What is the value a 12-month American put option wi...

1 answers

##### Urn "A" contains 5 white balls and 4 black balls, whereas urn B contains 3 white...

Urn "A" contains 5 white balls and 4 black balls, whereas urn B contains 3 white balls and 5 black balls. A ball is drawn at random from urn "B" and placed in urn "A". A ball is then drawn from urn "A". It happens to be black. What is the probability that the ball tra...

1 answers

##### Calculate the traditional checksum for the byte sequence in hex: 31, 20, 2D, 41, 4A by...

Calculate the traditional checksum for the byte sequence in hex: 31, 20, 2D, 41, 4A by adding all bytes and etc... If received byte sequence is 31, 20, 2D, 4A, 41 and received a checksum, can the checksum detect the error? Can the CRC-10 above detect the error?...

1 answers

##### How do you find product of the 2 solutions to the quadratic equation #x^2+x+7=0#, and then find the quotient?

How do you find product of the 2 solutions to the quadratic equation #x^2+x+7=0#, and then find the quotient?...

1 answers

##### Consider light that has its third minimum at an angle of 22° when it falls on...

Consider light that has its third minimum at an angle of 22° when it falls on a single slit of width 3.75 μm . Class Management | Help HW 9 Begin Date: 7/27/2020 12:01:00 AM -- Due Date: 7/30/2020 11:59:00 PM End Date: 8/8/2020 11:59:00 PM (11%) Problem 3: Consider light that has its third m...

1 answers

##### 7. A country can produce two goods Food and Cloth, which require Land and labor for...

7. A country can produce two goods Food and Cloth, which require Land and labor for the production. Total of 900 hectares of land and 2,400 laborers are available. To produce one unit of cloth, 1.5 hectares of land and 6 laborers are required. To produce one unit of food, 5 hectares of land and 3 la...

1 answers

##### Please include degrees freedom with type of test statistic if applies. thank you!! answer all boxes...

Please include degrees freedom with type of test statistic if applies. thank you!! answer all boxes please. Will rate Let p, and p, be the respective proportions of women with iron-deficiency anemia in each of two developing countries. A random sample of 1800 women from the first country yielded ...

1 answers

##### Crane Pharma just received revenues of $3,164,400 in Australian dollars (A$). Management has the following exchange...

Crane Pharma just received revenues of $3,164,400 in Australian dollars (A$). Management has the following exchange rates: A$2.69000/£ and $1.5906/£. What is the U.S. dollar value of the company’s revenues? (Round intermediate calculation to 4 decimal places, e.g. 15.2578 and final...

1 answers

##### 3) An alpha particle can be produced in certain radioactive decays of nuclei and consists of...

3) An alpha particle can be produced in certain radioactive decays of nuclei and consists of two protons and two neutrons. The particle has a charge of q = +2e and a mass of 4.00 u, where u is the atomic mass unit, with 1 u = 1.661 × 10 2'kg. Suppose an alpha particle travels in a circular...