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Builder Products, Inc., uses the weighted average method in its process costing system. It manufactures a caulking compound t

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Material Conversion
Equivalent Units of Production                3,44,400               3,39,600

.

Material Conversion
Cost per equivalent Unit $                    1.25 $                   0.45

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Material Conversion Total
Ending Inventory $ 18,000 $ 4,320 $ 22,320

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Material Conversion Total
Units Completed and transferred $ 412,500 $ 148,500 $ 561,000

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Cost Reconciliation
Costs to be accounted for:
Beginning Wip cost $ 93,000
Cost incurred during period $ 490,320
Total cost to be accounted for $ 583,320
Costs accounted for as follows:
Cost of Units Transferred Out $ 561,000
Cost of Ending Wip $ 22,320
Total cost accounted for $ 583,320

Working

Statement of Equivalent Units(Weighted average)
Material Conversion cost
Units Complete % Equivalent units Complete % Equivalent units
Transferred                3,30,000 100%                 3,30,000 100%               3,30,000
Closing WIP                    24,000 60%                    14,400 40%                     9,600
Total                3,54,000 Total                 3,44,400 Total               3,39,600

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Cost per Equivalent Units (Weighted average)
COST Material Conversion cost TOTAL
Beginning WIP Inventory Cost $ 69,500 $ 23,500 $ 93,000
Cost incurred during period $ 361,000 $ 129,320 $ 490,320
Total Cost to be accounted for $ 430,500 $ 152,820 $ 583,320
Total Equivalent Units               3,44,400                 3,39,600
Cost per Equivalent Units $                   1.25 $                     0.45 $                1.70

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Statement of cost (Weighted average)
Cost Equivalent Cost/unit Ending WIP Transferred
Units Cost Allocated Units Cost Allocated
Material $ 1.25                   14,400 $          18,000.00            3,30,000 $ 412,500
Conversion cost $ 0.45                     9,600 $             4,320.00            3,30,000 $      1,48,500.00
TOTAL $ 583,320 TOTAL $ 22,320 TOTAL $ 561,000
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