Sandia Corporation manufactures metal toolboxes. It adds all materials at the be

Question

Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information Units Costs 80,000 Beginning work in process (30% complete) 80,000 Direct materials Conversion cost $ 270,000 Total cost of beginning work in prooess Number of units started Number of units completed and transferred to finished goods Ending work in process (50% complete) Current period costs 152,000 68,000 $ 180,000 Direct materials Conversion cost Total current period costs $ 494,000 Required: 1 & 2. 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 Answer is complete and correct. Units 64,000 68000 232,000 Beginning Units 0,000 152000Ending Units 232,000 Started Total Units Total Units

Explanation / Answer

a) Equivalent unit of production :

d) Reconcile the total cost of work in process

Equivalent unit Physical unit Direct material Conversion Unit completed 164000 164000 164000 Ending inventory 68000 68000 68000*50% = 34000 Total 232000 232000 198000

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