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Saddleback Company makes camping lanterns using a single production process. All direct materials are added at the beginning

Req 1A Reg 1B Req 1C Req 1D Using the weighted-average method of process costing, reconcile the number of physical units work

Reg 1A Reg 1B Req 1C Reg 1D Using the weighted average method of process costing, calculate the number of equivalent units. E

Req 1A Req 1B Req 1C Req 10 Using the weighted average method of process costing, calculate the cost per equivalent unit. (Ro

Reg 1A Reg 1B Req 1C Req 10 Using the weighted average method of process costing, reconcile the total cost of work in proc Co



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Answer #1
a) Reconciliation of Units
Opening WIP 122800
Add: Introduced 253000
Total 375800
Less: Transferred 335800
Closing WIP 40000
b) Calculation of Equivalent units (Weighted Average Method)
Material Conversion
Units Completed and Transferred to Finished Goods 335800 335800
Closing WIP: 40000 Units
Direct Materials 100% complete 40000
Conversion 65% complete 26000
Equivalent Units 375800 361800


c) Cost per Equivalent Units (Weighted average)
COST Material Conversion cost TOTAL
Beginning WIP Inventory Cost 202000 354000 556000
Cost incurred during period 517400 658000 1175400
Total Cost to be accounted for 719400 1012000 1731400
Total Equivalent Units 375800 361800
Cost per Equivalent Units 1.91 2.80 4.71
d) Cost Reconciliation
Costs to be accounted for:
Beginning Wip cost 556000
Cost incurred during period 1175400
Total cost to be accounted for 1731400
Costs accounted for as follows:
Cost of Units Transferred Out 1582102
Cost of Ending Wip 149298
Total cost accounted for working 1731400

Working Note:

Statement of Cost Weighted Average
Cost per Equivalent Units Ending WIP Transferred
Units Cost Allocated Units Cost Allocated
Cost
Material Cost 1.91 40000 76573 335800 642827
Conversion Cost 2.80 26000 72725 335800 939275
Total 149298 1582102
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