ABC, Inc. manufactures a product, plastic pipe that goes through three departmentsprior to completion. The following information is available for work in the firstdepartment, the Cooking Department, during May.Percent CompletedUnitsMaterialsConversionWork in process, May 170,00090%70%Work in process, May 3140,00075%25%Work in process, May 1$86,000$36,000Cost added during May$447,000$198,000There are 380,000 units completed and transferred out during May.Required:Assume the company uses weighted-average method.a) Determine the equivalent units for May for materials and conversion.(6 marks)b) Compute the costs per equivalent unit for May.c) Determine the total cost of ending work in process inventory and units completed(5 marks)and transferred out in May.(6 marks)d) Prepare a cost reconciliation report.(3 marks)

a. Determine the equivalent units for May for materials and conversion.

Answered: ABC, Inc. manufactures a product,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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