Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Costs Units
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Costs Units 35,000 $ 30,000 85,000 $115,000 80,000 Beginning work in process (25% 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 (57% complete) Current period costs Direct materials Conversion cost Total current period costs ? 90,000 $ 99,000 161,000 $ 260,000 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. d. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. a. Reconcile the humber 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 the weighted-average method of process costing, reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Completed Ending Units Units Started Total Units 0 Total Units Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 10 Req 1D Using the weighted average method of process costing, calculate the number of equivalent units. Equivalent Units Direct Materials Conversion Physical Units Units Completed Ending Inventory Total 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 the weighted-average method of process costing, calculate the cost per equivalent unit. (Round Cost per Equivalent Unit to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started