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: 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 materials Conversion cost Total current period costs a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. Units 124,800 c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. 239,000 334,400 Costs $ 188,000 340,000 $520,000 Required: 1. Using the weighted-average method of process costing, complete each of the following steps: $ 503,400 644,000 1,147,400

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: 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 materials Conversion cost Total current period costs a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. Units 124,800 c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. 239,000 334,400 Costs $ 188,000 340,000 $520,000 Required: 1. Using the weighted-average method of process costing, complete each of the following steps: $ 503,400 644,000 1,147,400

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Description: Saddleback Company makes camping lanterns using a single production process. All direct materials are added at thebeginning of the manufacturing process. Information for the month of March follows:Beginning work in process (30% complete)Direct mater

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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