Builder Products, Inc., manufactures a caulking compound that goes through three processing stages prior to...
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Accounting
Builder Products, Inc., manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May follows:
Production data:
Pounds in process, May 1; materials 100% complete; conversion 77% complete
10,400
Pounds started into production during May
111,000
Pounds completed and transferred out
?
Pounds in process, May 31; materials 62% complete; conversion 21% complete
13,100
Cost data:
Work in process inventory, May 1:
Materials cost
$2,200
Conversion cost
$7,600
Cost added during May:
Materials cost
$148,500
Conversion cost
$96,800
Answer & Explanation
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