Question

PA3-1 (Algo) Preparing a Process Costing Production Report (Weighted Average Method) [LO 3-2, 3-3, 3- 4] Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information: Costs Units 36,000 $ 30,000 100,000 $130,000 82,000 Beginning work in process (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (54% complete) Current period costs Direct materials Conversion cost Total current period costs 85,000 $ 96,000 163,000 $259,000 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

Answer 1

B2 Xfx Units A B с D E Costs 30000 100000 =C4+CS 96000 163000 259000 2 Units 3 Beginning work in process (30% complete) 36000 4 Direct materials 5 Conversion cost 6 Total cost of beginning work in process 7 Number of units started 82000 8 Number of units completed and transferred to finished goods ? 9 Ending work in process (54% complete) 85000 10 Current period costs 10 en pero 11 Direct materials nas 12 Conversion cost elson Cost 13 Total current period costs 14 Required: 15 1. Using the weighted-average method of process costing, complete each of the following steps: 16 a. Reconcile the number of physical units worked on during the period. 17 b. Calculate the number of equivalent units. 18 c. Calculate the cost per equivalent unit. 19 d. Reconcile the total cost of work in process. 20 1a.Using the weighted average method of process costing, reconcile the number of physical unit: 21 Physical Units 22 Beginning Units =B3 23 Units Started =B7 24 Total Units =B22+B23 25 1b.Using the weighted average method of process costing, calculate the number of equivalent ur 26 Units Completed Ending Units Total Units Physical Units =E24-E23 85000 =B24 Equivalent Units Direct Materials =B28 =B29 =C28+C29 1 0.54 Conversion =C28 =C29*54% =E28+E29 27 Physical Units 28 Units Completed =E22 29 Ending Inventory =E23 30 Total =B28+B29 31 32 1c. Using the weighted average method of process costing, calculate the cost per equivalent unit. 33 Direct material 34 Beginning inventory 30000 35 Current period cost 96000 36 Total costs =B34+B35 37 Equivalent units =C30 38 Cost per equivalent unit =B36/B37 39 40 1d.Using the weighted average method of process costing, reconcile the total cost of work in pro 41 Direct Materials 42 Units Completed =C28B38 43 Ending Inventory =C29°338 44 Total Cost Accounted for =B42+B43 45 Conversion 100000 163000 =C34+C35 =E30 =C36/C37 Conversion =E28C38 =C38E29 =C42+C43 Total Cost =B42+C42 =B43+C43 =B44+C44 1a.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	36,000		Units Completed	33,000
Units Started	82,000		Ending Units	85000
Total Units	118,000		Total Units	118,000
1b.Using the weighted-average method of process costing, calculate the number of equivalent units.
		Equivalent Units
	Physical Units	Direct Materials		Conversion
Units Completed	33,000.00	33,000.00	100%	33,000.00
Ending Inventory	85,000.00	85,000.00	54%	45,900.00
Total	118,000.00	118,000.00		78,900.00
1c.Using the weighted-average method of process costing, calculate the cost per equivalent unit. (Round Cost per Equivalent Unit to 5 decimal places.)
	Direct material	Conversion
Beginning inventory	$                       30,000.00	$       100,000.00
Current period cost	$                       96,000.00	$       163,000.00
Total costs	$                     126,000.00	$       263,000.00
Equivalent units	118,000	78,900
Cost per equivalent unit	$1.06780	$3.33333
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 whole dollar amount.)
	Direct Materials	Conversion	Total Cost
Units Completed	$                 35,237.28814	$ 110,000.00000	$       145,237.28814
Ending Inventory	$                 90,762.71186	$ 153,000.00000	$       243,762.71186
Total Cost Accounted for	$                     126,000.00	$       263,000.00	$             389,000.00