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Required information PA3-3 and PA3-4 (Algo) Preparing a Process Costing Production Report [LO 3-2, 3-3, 3-4, 3-5] [The following information applies to the questions
Required information PA3-3 and PA3-4 (Algo) Preparing a Process Costing Production Report [LO 3-2, 3-3, 3-4, 3-5] [The following information applies to the questions displayed below.] 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: Beginning work in process (30% complete) Direct materials Conversion cost Units 125,300 Costs $ 187,000 339,000 Total cost of beginning work in process Number of units started $ 526,000 238,000 Number of units completed and transferred to finished goods 334,300 Ending work in process (65% complete) ? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using FIFO method of process costing, calculate the number of equivalent units. Beginning Inventory Started and Completed Ending Inventory Total Physical Units Equivalent Units Conversion Direct Materials 125,300 209,000 209,000 209,000 29,000 363,300 29,000 238,000 18,850 227,850 Current period costs Direct materials Conversion cost Total current period costs $ 502,400 643,000 1,145,400 PA3-4 (Algo) FIFO [LO 3-4, 3-5] Required: 1. Using FIFO 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. Screenshot 2023-12-... Nutrition Facts Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using FIFO method of process costing, calculate the cost per equivalent unit. Note: Round Cost per Equivalent Unit to 5 decimal places. Cost per Equivalent Unit Direct Materials Conversion Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using FIFO method of process costing, reconcile the number of physical units worked on during the period. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using FIFO method of process costing, reconcile the total cost of work in process. Note: Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount. Show less Physical Units Beginning 125,300 Units Units Started 238,000 Units Completed Ending Units Total Units 363,300 Total Units Physical Units 334,300 29,000 363,300 Beginning Inventory Prior Period Costs Current Period Costs Direct Conversion Materials Total Cost Started and Completed Ending Inventory Total Cost Accounted for $ 0 $ 0 $ 0 $ 0
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