Company manufactures plastic storage crates and has the follow
Company manufactures plastic storage crates and has the following information available for the month of April:
|
Work in process, April 1 |
|
20,600 |
units |
(100% complete for materials, 47% for conversion) |
|
|
|
Direct materials |
$ |
14,000 |
|
Conversion |
$ |
42,000 |
|
|
|
|
|
Number of units started |
|
48,400 |
units |
|
|
|
|
April costs |
|
|
|
Direct materials |
$ |
58,800 |
|
Conversion |
$ |
91,800 |
|
|
|
|
|
Work in process, April 30 |
|
18,000 |
units |
(100% complete for materials, 20% for conversion) |
|
|
|
|
Required: |
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. |
|
Physical Units |
|
|
Physical Units |
Beginning Units |
|
|
|
Units Completed |
|
|
Units Started |
|
|
|
Ending Units |
|
|
|
|
|
|
|
|
|
Total Units |
|
|
|
Total Units |
|
|
|
|
|
|
|
|
|
|
(b) |
Calculate the number of equivalent units. |
|
Equivalent Units |
|
Direct Materials |
Conversion |
Units Completed |
|
|
|
|
Ending Inventory |
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
(c) |
Calculate the cost per equivalent unit. (Round your answers to 5 decimal places. Omit the “$” sign in your response.
) |
|
Direct Materials |
Conversion |
Cost per Equivalent Unit |
$ |
|
|
$ |
|
|
|
(d) |
Reconcile the total cost of work in process. (Use rounded cost per Equivalent unit. Round your answers to the nearest
dollar amount. Omit the “$” sign in your response.) |
|
Direct Materials |
Conversion |
Total Cost |
Units Completed |
$ |
|
|
$ |
|
|
$ |
|
|
Ending Inventory |
|
|
|
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Cost Accounted for |
$ |
|
|
$ |
|
|
$ |
|

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