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: Units:
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Units: 45,000 Costs $ 42,000 90,000 $ 132,000 Beginning work in process (27% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started 83,000 Number of units completed and transferred to finished goods 2 Ending work in process (56% complete) 89,000 Current period costs Direct materials Conversion cost Total current period costs Required: $ 98,000 154,000 $ 252,000 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. Req 1A Req 18 Req 1C Req 1D 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 worke Beginning Units Units Started Physical Units Units Completed Ending Units Physical Units Total Units Total Units Req 1A Req 1B > Req 1A Req 1B Req 1C Req 1D Using the weighted-average method of process costing, calculate the number of equivalent units. Units Completed Ending Inventory Total Equivalent Units Physical Units Direct Materials Conversion < Req 1A Req 1C > 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. Note: Round Cost per Equivalent Unit to 5 decimal places. Cost per Equivalent Unit Direct Materials Req 1A Req 1B Req 1C Req 1D Using the weighted-average 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 amount. Units Completed Ending Inventory Direct Materials Total Cost Accounted for < Req 1C Conversion Total Cost
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