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ACCT 386 - Week 3 - Homework - Question 1

ACCT 386 - Week 3 - Homework - Question 1
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ACCT 386 - Week 3 - Homework - Question 1

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Question 1

The PVC Company manufactures a high-quality plastic pipe that goes through three processing stages prior to completion.

  information on work in the first department, Cooking, is given below for May:

 

 

 

  Production data:

 

 

    Pounds in process, May 1: materials
      100% complete; conversion 90% complete

 

83,000   

    Pounds started into production during May

 

480,000   

    Pounds completed and transferred to
      the next department

 

?   

    Pounds in process, May 31:
      materials 75% complete; conversion 25% complete

 

43,000   

  Cost data:

 

 

    Work in process inventory, May 1:

 

 

        Materials cost

$

128,300   

        Conversion cost

$

53,900   

    Cost added during May:

 

 

        Materials cost

$

666,940   

        Conversion cost

$

296,395   


The company uses the weighted-average method