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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: Costs $ 192,000 344,000 $ 536,000 Units Beginning work in process (30% complete) 117,800 Direct materials Conversion cost Total cost of beginning work in process Number of units started 243,000 Number of units completed and transferred to 334.800 finished goods Ending work in process (65% complete) Current period costs Direct materials Conversion cost Total current period costs $ 507,400 648,000 $1,155,400 PA3-4 (Static) FIFO [LO 3-S1] 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. 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 1D Using FIFO method of process costing, reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Started Total Units Units Completed Ending Units Total Units 0 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 1D Using FIFO 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.) Current Period Costs Direct Materials Conversion Prior Period Costs Total Cost Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted for $ 0 $ 0 $ 0 $ 0
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