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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 Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (65% complete) Current period costs Direct materials Conversion cost Total current period costs PA3-4 (Algo) FIFO [LO 3-4, 3-5] Required: 1. Using FIFO method of process costing, complete each of the following steps: . 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 18 Req 10 Req ID Using FIFO method of process costing, calculate the number of equivalent units. Beginning Inventory Started and Completed Ending Inventory Total Units 121,300 Costs $ 199,000 351,000 $ 550,000 250,000 335,500 Equivalent Units Physical Units Direct Materials Conversion 121.300 121.300 < Req 1A Req 10 ) $ 514,400 655.000 1,169,400
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