The PVC company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion. Information on the first department, Cooking is given below for May. Production data: ...Pounds in process, May 1st: materials 100% complete; conversion 90% complete 70000...Pounds started into production during May 350000...Pounds completed and transferred to the next department ?...Pounds in process, May 31st; materials 35% complete; conversion 25% complete 40000Cost Data: Work in process inventory May 1 ...Materials cost 86000...Conversion cost 36000Cost added during May: ...Materials cost 447000...Conversion cost 198000The company uses the weighted average method Required: 1. Compute the equivalent units of production. 2. Compute the cost 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 for the month.
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