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Please help with my accounting homework Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has
Please help with my accounting homework
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following Information: Costs Units 80, eee $ 80, eee 19e, eee $ 270, eee 152, eee Beginning work in process (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (50% complete) Current period costs Direct materials Conversion cost Total current period costs 68, eee $180, eee 314, eee $494, eee Required: 1 & 2. Using FIFO method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. Answer is complete and correct. Beginning Units Units Physical Units 80.000 152.000 Units Completed Ending Units Physical Units 164.000 68.000 l b. Calculate the number of equivalent units Answer is complete but not entirely correct. Physical Units 80.000 Equivalent Units Direct Conversion Materials 80.000 80.000 $ Beginning Inventos Sunted and Completed Ending Inventory Tota 184.000 68,000 312.000 164.000 08.000 312.000 164.000 34.000 278.000 c. Calculate the cost per equivalent unit (Round cost per Equivalent Unit to 5 decimal places.) Answer is complete but not entirely correct. Direct Conversion Materials $ 1.12000 $ 2.54545 Cost per Equivalent LA 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.) Answer is not complete. Current Period Costs Prior Period Costs Direct Materials Conversion Total Cost Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted S 183.793 76,207 280.000 417.454 86,545 503.999 801.247 162.752 $ 763.999 O S S forStep by Step Solution
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