The PVC Company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion

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



70,000

Pounds started into production during May



350,000

Pounds completed and transferred to the next department



?

Pounds in process, May 31: materials 75% complete; conversion 25% complete



40,000

Cost data:





Work in process inventory, May 1:





Materials cost

$

86,000

Conversion cost

$

36,000

Cost added during May:





Materials cost

$

447,000

Conversion cost

$

198,000



The company uses the weighted-average method.



Required:



1.

Compute the 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.)

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.)

4.

Prepare a cost reconciliation report for the month. (Omit the \"$\" sign in your response.)


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