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: Units Costs Beginning work in process (30% complete) 117,800 Direct materials $ 192,000 Conversion cost 344000 $ 536,000 Total cost of beginning work in process Number of units started 243.000 Number of units completed and transferred to finished goods 334,800 Ending work in process (65% complete) Current period costs Direct materials $ 507.400 648,000 Conversion cost Total current period costs $1155 400 Page 152 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 rounded to five decimal places. d. Reconcile the total cost of work in process 2. Summarize the preceding steps in a March production report for Saddleback Company. PLEAL 13 14 15 16 17 18 Step 1Recond Physical Unas Physical Units Beginning Units Units Started Total Units Physical Units Lunits Completed Ending Units Total Units b. Step 2: Calculate Equivalent Units Physical Units Equivalent Unita Direct Materials Conversion Units Completed Ending Inventory Total 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 c. Step 3: Calculate Cost per Equivalent Unk Direct Materials Conversion Beginning inventory Costs Current Period Cost Total Cost Equivalent Units Cost per Equivalent une Step 4: Reconcile the Total Cost of Work in Process 42 43 44 45 46 47 48 Direct Materials Total Cost Conversion Cost to Account for: Prior Period Costs Current Period Costs Total Cost to Account For Direct Materials Total Cost Conversion 50 51 52 53 54 55 56 Units Completed Ending Inventory Total Cost Accounted for