| 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 |
Saddleback Company makes camping lanterns using a single production process. All direct materials are added at...
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:
Units
Costs
Beginning work in process (30% complete)
121,300
Direct materials
$
199,000
Conversion cost
351,000
Total cost of beginning work in process
$
550,000
Number of units started
250,000
Number of units completed and transferred to finished
goods
335,500
Ending work in process (65% complete)
?
Current period costs
Direct...
-ok 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: nt ences Units 117,800 Costs $ 192,000 344,000 $ 536,000 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 (65% complete) Current period costs Direct...
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 Units 127,800 $ 182,000 334,000 $ 516,000 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...
[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:
Units
Costs
Beginning work in process (30% complete)
121,300
Direct materials
$
199,000
Conversion cost
351,000
Total cost of beginning work in process
$
550,000
Number of units started
250,000
Number of units completed and transferred to finished
goods
335,500
Ending work...
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 37,000 $ 40,000 87,000 $127,000 70,000 Beginning work in process (28% 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 (51% complete) Curren period costs Direct materials Conversion cost Total current period costs ? 73,000...
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 43,000 $ 45,000 86,000 $131,000 Beginning work in process (28% 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 (55% complete) Current period costs Direct materials Conversion cost Total current period costs 67,000 ? 73,000...
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 $ 184,000 336,000 520,000 $ Units Beginning work in process (30% complete) 126,800 Direct materials Conversion cost Total cost of beginning work in process Number of units started 235,000 Number of units completed and transferred to 221 00 finished goods Ending work in process (65% complete) Current period costs Direct...
Vista Vacuum Company has the following production information
for the month of March. All materials are added at the beginning of
the manufacturing process.
Units
Beginning inventory of 3,300 units that are 100 percent
complete for materials and 24 percent complete for conversion.
15,000 units started during the period.
Ending inventory of 3,400 units that are 13 percent complete
for conversion.
Manufacturing Costs
Beginning inventory was $21,100 ($10,400 materials and $10,700
conversion costs).
Costs added during the month were $29,500...
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 48,000 $ 37,000 100,000 $137,000 84,000 Beginning work in process (26% 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 (51% complete) Current period costs Direct materials Conversion cost Total current period costs 76,000 $...
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: Units Costs Beginning work in process (30% complete) 126,800 Direct materials 184,000 Conversion cost 336,000 Total cost of beginning work in process 520,000 Number of units started 235,000 Number of units completed and transferred to finished goods Ending work in process (65% complete) Current period costs 334,000 Direct materials 499,400 640,000...