Legacy Company manufactures umbrellas and has the following information available for the month of May:

Required:
Using the weighted-average method of process costing, complete each of the following steps:
1. Reconcile the number of physical units worked on during the period.
2. Calculate the number of equivalent units.
3. Calculate the cost per equivalent unit rounded to five decimal places.
4. Reconcile the total cost of work inprocess.

Transcribed Image Text:

Work in process, May1 (100% complete for materials, 90% for conversion) Direct materials Conversion cost 36,000 units $64,500 $87,500 Number of units started 90,500 units May costs Direct materials Conversion cost $103,000 $189,500 Work in process, May 31 (100% complete for materials, 20% for conversion) 33,500 units