the pvc company manufactures a high quality plastic pipe that goes through three pr 385396

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 $