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21-25. PVC Company produces a high-quality plastic pipe in two departments, Cooking and Molding. Materials are introduced at various points during work in the Cooking Department. After the cooking is completed, the materials are transferred into the Molding Department, in which the pipe is formed.

Selected data relating to the Cooking Department during May are:

            Production data:

                        Pounds in process May 1: materials 100%

                        complete; conversion 90% complete……………………     90,000

                        Pounds started into production in May………………….   390,000

                        Pounds completed and transferred to Molding……………420,000

                        Pounds in process, May 31: materials 75%

                        complete, conversion 25% complete……………………     60,000

            Cost data:

                Work in process inventory, May 1;

                        Materials cost…………………………………………... $112,000

                       

                        Conversion cost……………………………………. ….    $56,000

               Costs added during May;

            Materials...………………………….……………………….. $501,800

            Conversion cost………………………………………………. $213,700

Required: Prepare a Production Report using the process costing weighted average equivalent units method for the Cooking department for the month of May.

Include:

Units to account for

Equivalent units

Dollar amounts to account for

Cost per equivalent unit, rounded to the nearest cent; and

Total cost reconciliation for the department.

Answer
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