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Problem 4-14 - Builder Products, Inc. manufactures a caulking compound that goes through three processing stages prior to completion.
Problem 4-14 - Builder Products, Inc. manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, for May follows:Production data:Pounds in process, May 1; materials 100% complete;Conversion 80% complete..........................................10,000Pounds started into production during May...................100,000Pounds completed and and transferred out......................... ?Pounds in process, May 31; materials 60% complete; conversion 20% complete..............................................15,000Cost data: Work in process inventory, May 1:Materials cost................................................................$1,500Conversion Cost............................................................$7,200 Cost added during May:Materials cost ..............................................................$154,500Conversion Cost...............................................................$90,800The company uses the weighted-average method.1. Compute the equivalent units of production.2. Compute the costs per equivalent unit for the month.3. Determine the cost of ending work in process inventory and of the units transferred out to the next department.4. Prepare a cost. reconciliation report for the month.
