Question
Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 45%
Silver Company manufactures kites and has the following information available for the month of April:
Work in process, April 1 | |||
(100% complete for materials, 45% for conversion) | 32,000 | units | |
Direct materials | $ | 38,000 | |
Conversion cost | $ | 57,000 | |
Number of units started | 88,000 | units | |
April costs | |||
Direct materials | $ | 114,000 | |
Conversion cost | $ | 177,000 | |
Work in process, April 30 | |||
(100% complete for materials, 21% for conversion) | 34,000 | units | |
Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period.
Physical Units | Physical Units | |||
Beginning Units | Units Completed | |||
Units Started | Ending Units | |||
Total Units | Total units |
2. Calculate the number of equivalent units.
Equivalent Units | |||
Physical Units | Direct Materials | Conversion | |
Units Completed | |||
Ending Inventory | |||
Total Units |
3. Calculate the cost per equivalent unit. (Round your answers to 5 decimal places.)
Direct Materials | Conversion | |
Cost per Equivalent Unit |
4. Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.)
Direct Materials | Conversion | Total Cost | |
Units Completed | |||
Ending Inventory | |||
Total Cost Accounted for |
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