Question

Question 1 (of 3) value: 40.00 points The Barrington Company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion. Information on work in the first department, Cutting, is given below for May: Production data: Pounds in process, May 1: materials 100% complete; conversion 90% complete Pounds started into production during May Pounds completed and transferred to the next department 82,000 470,000 Pounds in process, May 31 : materials 70% complete; conversion 30% complete 42,000 Cost data Work in process inventory, May 1 Materials cost $ 152,300 52,300 Conversion cost Cost added during May: Materials cost Conversion cost $791,650 $ 287,390 The company uses the weighted-average method.

Answer 1

1Equivalent units of production-weighted average Units % Material | EUP-Material % conversion | EUP-conversion a"c EUP Equivalent units of production Units completed and transferred out 82000+470000-42000 Units of e Equivalent units of production 510,000 100% 10% 510,000 400 39,400 100% 30% 510,000 n process 552,000 522,600 2.Cost per equivalent unit of production Cost of beginnin Costs incurred this Total costs + Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Material conversion 152300 791650 943950 Costs 539,400 EUP n process 52,300 Costs EUP 339690 522.600 1.75 0.65 3.Costs of ending goods in process Material conversion Total cost of ending goods in process EUP 29,400 12,600 Cost per EUP Total cost 1.75 0.65 51,450 8 190 59,640 EUP Cost per EUP Total cost Material conversion Total costs transferr 510,000 510,000 1.75 0.65 892,500 1,224,000 4) cost reconciliation cost to be accounted for: Costs in Costs added during the period (791650+287390) total cost to be accounted for Costs accounted for as follows: Goods transferred out work in 152300+52300) 204,600 1283640 1,224,000 work in total Costs accounted for: 1,283,640 4 Sheet525 Sheet526 Sheet527 Sheet528 Sheet529 SheetS30 Sheet53 1 SheetS32 | Sheet533 ENG 07:35 US 11/03/2019