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Please show your work so I can see exactly how it is done. Thank you! PA3-1 (Algo) Preparing a Process Costing Production Report (Weighted-Average Method)
Please show your work so I can see exactly how it is done. Thank you!
PA3-1 (Algo) 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: Costs Units 34,888 Beginning work in process (22% complete) Direct materials $ 45,000 100,000 Conversion cost $145,000 75,000 ? Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (53% complete) Current period costs Direct materials Conversion cost 76,000 $ 88,000 153,680 $241,000 Total current period costs 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. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 10 Reg 10 Using the weighted-average method of process costing, reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Completed Units Started Ending Units Total Units Total Units Complete this question by entering your answers in the tabs below. Req 1A Req|1B Reg 10 Req 10 Using the weighted average method of process costing, calculate the number of equivalent units. Equivalent Units Physical Units Direct Materials Conversion Units Completed Ending Inventory Total Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 10 Reg 10 Using the weighted average method of process costing, calculate the cost per equivalent unit. (Round Cost per Equivalent Unit to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Reg 10 Req 10 Using the weighted average method of process costing, 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.) Direct Materials Conversion Total Cost Units Completed Ending Inventory Total Cost Accounted forStep by Step Solution
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