Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information:
Units
Costs
Beginning work in process (30% complete)
80,000
Direct materials
$
80,000
Conversion cost
190,000
Total cost of beginning work in process
$
270,000
Number of units started
152,000
Number of units completed and transfe
ed to finished goods
?
Ending work in process (50% complete)
68,000
Cu
ent period costs
Direct materials
$
180,000
Conversion cost
314,000
Total cu
ent period costs
$
494,000
Required:
1. Using the weighted-average method of process costing, complete each of the following steps.
a. Reconcile the number of physical units worked on during the period.
. Calculate the number of equivalent units.
c. Calculate the cost per equivalent unit.
d. Reconcile the total cost of work in process.
PA3-3 and PA3-4 (Algo) Preparing a Process Costing Production Report [LO 3-2, 3-3, 3-4, 3-S1]
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Saddleback Company makes camping lanterns using a single production process. All direct materials are added at the beginning of the manufacturing process. Information for the month of March follows:
Units
Costs
Beginning work in process (30% complete)
119,800
Direct materials
$
196,000
Conversion cost
348,000
Total cost of beginning work in process
$
544,000
Number of units started
247,000
Number of units completed and transfe
ed to finished goods
335,200
Ending work in process (65% complete)
?
Cu
ent period costs
Direct materials
$
511,400
Conversion cost
652,000
Total cu
ent period costs
$
1,163,400
PA3-3 (Algo) Weighted-Average Method [LO 3-2, 3-3, 3-4]
Required:
1. Using the weighted-average method of process costing, complete each of the following steps:
a. Reconcile the number of physical units worked on during the period.
. Calculate the number of equivalent units.
c. Calculate the cost per equivalent unit.
d. Reconcile the total cost of work in process.