Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[The following information applies to the questions displayed below.) Saddleback Company makes camping lanterns using a single production process. All direct materials are added at

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

[The following information applies to the questions displayed below.) 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 $ 190,000 342,000 532,000 $ Units Beginning work in process process 123,800 (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started 241,000 Number of units completed and transferred to finished 334,600 goods Ending work in process (65% complete) Current period costs Direct materials Conversion cost Total current period costs $ 505, 400 646,000 $1,151,400 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. 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 Started Total Units Units Completed Ending Units Total Units 0 Req 1A Req 1B Req 1C Reg 1D Using the weighted average method of process costing, calculate the number of equivalent units. Physical Units Equivalent Units Direct Materials Conversio Units Completed Ending Inventory Total Req 1A Req 1B Req 1C Req 1D Using the weighted average 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 dollar amount.) Show less Direct Conversion Total Cost Materials Units Completed Ending Inventory

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISO 13485 Auditing Journal Notes Checklists Observations Evidence Log

Authors: Just Visualize It, The Quality Guy

1st Edition

B08W7SNPGP, 979-8706121884

More Books

Students also viewed these Accounting questions