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The PVC Company manufactures a high-quality plastic pipe that goes through three pr 1 answer below » 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 67,000 Pounds started into
production during May 320,000 Pounds completed and transferred to the next department ? Pounds in process, May 31: materials 75% complete; conversion 25% complete
27,000 Cost data: Work in process inventory, May 1: Materials cost $ 78,500 Conversion cost $ 20,300 Cost added View complete question » 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 67,000 Pounds started into
production during May 320,000 Pounds completed and transferred to the next department ? Pounds in process, May 31: materials 75% complete; conversion 25% complete
27,000 Cost data: Work in process inventory, May 1: Materials cost $ 78,500 Conversion cost $ 20,300 Cost added during May: Materials cost $ 408,220 Conversion
cost $ 111,730 ——————————————————————————– 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 Conversion Total 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: (Click to select)Cost of ending work in process inventoryCost
of units completed and transferred outCost of beginning work in process inventory $ (Click to select)Costs added to production during the periodCost of ending work
in process inventoryCost of units completed and transferred out ——————————————————————————– Total cost to be
accounted for $ ——————————————————————————–
——————————————————————————– Costs accounted for as follows: (Click to select)Cost of ending work in process
inventoryCosts added to production during the periodCost of beginning work in process inventory $ (Click to select)Costs added to production during the periodCost
of beginning work in process inventoryCost of units completed and transferred out ——————————————————————————–
Total cost accounted for $ View less » Oct 26 2013 11:57 AM
