Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This problem is giving me trouble. Could you help me out please? Required information [The following information applies to the questions displayed below.) Saddleback Company

This problem is giving me trouble. Could you help me out please?
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information [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 $ 194,000 346,000 540,000 $ Units Beginning work in process (30% complete) 118,800 Direct materials Conversion cost Total cost of beginning work in process Number of units started 245,000 Number of units completed and 335,000 transferred to finished goods Ending work in process (65% complete) Current period costs Direct materials Conversion cost Total current period costs $ 509,400 650,000 $1,159,400 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 1 2 of 2 Next > Complete this question by entering your answers in the tabs below. Req 1A Req 18 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 Units Started Ending Units Total Units Total Units Req 18 > m l w USUI Work in process. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 10 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 1992 of 2 Next Complete this question by entering your answers in the tabs below. Req 1A Req 18 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 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 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.) Direct Materials Conversion Total Cost Units Completed Ending Inventory Total Cost Accounted for

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

Step: 3

blur-text-image

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

Auditing and Assurance services an integrated approach

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

14th Edition

133081605, 132575957, 9780133081602, 978-0132575959

More Books

Students also viewed these Accounting questions

Question

What is the difference between needs and wants? (p. 263)

Answered: 1 week ago