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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
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 (363 complete) 117, 880 Direct materials $ 192,806 Conversion cost 344,809 Total cost of beginning work in process $ 536,606 Number of units started 243, 680 Number of units completed and transferred to finished goods 334, 860 Ending work in process (65% complete) Current period costs Direct materials $ 507,406 Conversion cost 648,890 Total current period costs $ 1, 155,400 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. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 10 Using FIFO method of process costing, calculate the cost per equivalent unit. Note: Round Cost per Equivalent Unit to 5 decimal places. Direct Materials Conversion Cost per Equivalent Unit 0. Reconcile the total cost of work In process. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 10 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. Current Period Costs Prior Period Costs Total Cost Direct Materials Conversion Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted for 3 S 0
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