Question
Arboles Company manufactures pencils and has the following information available for the month of July: Work in process, July 1(100% complete for materials, 60% for
Arboles Company manufactures pencils and has the following information available for the month of July:
Work in process, July 1(100% complete for materials, 60% for conversion)74,900unitsDirect materials$4,900Conversion cost$17,400Number of units started99,900unitsJuly costsDirect materials$6,400Conversion cost$23,900Work in process, July 31(100% complete for materials, 10% for conversion)69,900units
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 cost per equivalent unit.
4.Reconcile the total cost of work in process.
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