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% 77,000 complete; conversion 90% complete 420,000 Pounds started into production during May Pounds completed and transferred to the next department Pounds in process, May 31: materials 80% complete; conversion 20% complete 37,000 Cost data: Work in process inventory, May 1: Materials cost 130,300 Conversion cost 61,100 Cost added during May: 677,540 Materials cost 336,190 Conversion cost The company uses the weighted-average method Required: 1. Compute the equivalent units of production Materials Conversion Equivalent units of production 2. Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit Show transcribed image text 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% 77,000 complete; conversion 90% complete 420,000 Pounds started into production during May Pounds completed and transferred to the next department Pounds in process, May 31: materials 80% complete; conversion 20% complete 37,000 Cost data: Work in process inventory, May 1: Materials cost 130,300 Conversion cost 61,100 Cost added during May: 677,540 Materials cost 336,190 Conversion cost The company uses the weighted-average method Required: 1. Compute the equivalent units of production Materials Conversion Equivalent units of production 2. Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit
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