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Chris Newport ACCT-510 DSB 1-1-15 Managerial Accounting ONLINE &...

Chris Newport ACCT-510 DSB 1-1-15 Managerial Accounting ONLINE & ONSITE: MBAO299 ACCT510 DSB WS2 Group A Problems instructions | help 1. value: 26.66 points PA3-1 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: Units Costs Beginning work in process (30% complete) 80,000 Direct materials $ 80,000 Conversion cost 190,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total cost of beginning work in process $ 270,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Number of units started 152,000 Number of units completed and transferred to finished goods ? Ending work in process (50% complete) 68,000 Current period costs Direct materials $ 180,000 Conversion cost 314,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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. Physical Units : Physical units: Beginning Units Units Completed Units started Ending Units Total Units: Total Units b. Calculate the number of equivalent units. Physical Units Direct materials Conversion Units Completed: Ending inventory: Total c. Calculate the cost per equivalent unit. (Round your answers to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit d. 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 Ending Inventory Total Costs Accounted For ©2015 McGraw-Hill Education. All rights reserved. Requires a modern browser - e.g. Safari 1, Netscape 6 or IE 5 . .

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