Question #7200236

Accounting question : cost?

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 65,000 Pounds started into production during May 300,000 Pounds completed and transferred to the next department ? Pounds in process, May 31: materials 80% complete; conversion 20% complete 25,000 Cost data: Work in process inventory, May 1: Materials cost$ 73,200 Conversion cost$ 24,400 Cost added during May: Materials cost$ 380,400 Conversion cost$ 134,300 The company uses the weighted-average method. Required: 1.Compute the equivalent units of production. Materials Conversion Equivalent units of production 2. Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places. Omit the "$" sign in your response.) Materials Conversion Cost per equivalent unit$ $ 3. Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Omit the "$" sign in your response.) Materials ConversionTotal Cost of ending work in process inventory$ $ $ Cost of units completed and transferred out $ $ $ 4. Prepare a cost reconciliation report for the month. (Omit the "$" sign in your response.) Cost Reconciliation Costs to be accounted for: $ Total cost to be accounted for$ Costs accounted for as follows: $ Total cost accounted for$

2013-06-08 21:24:11

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