Question
PA3-1 Preparing a Process Costing Production Report (Weighted-Average Method) [LO 3-2, 3-3, 3-4] Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning
PA3-1 Preparing a Process Costing Production Report (Weighted-Average Method) [LO 3-2, 3-3, 3-4]
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Units Cost
| 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 transferred to finished goods | ? | ||
| Ending work in process (50% complete) | 68,000 | ||
| Current period costs | |||
| Direct materials | $ | 180,000 | |
| Conversion cost | 314,000 | ||
| Total current period costs | $ | 494,000 | |
|
1 & 2. 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. b. Calculate the number of equivalent units. C.Calculate the cost per equivalent unit. (Round cost per Equivalent Unit to 5 decimal places.) d.Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount.) |
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Modern Advanced Accounting in Canada
Authors: Hilton Murray, Herauf Darrell
8th edition
1259087557, 1057317623, 978-1259087554
