Required informationPA3-3 and PA3-4 (Algo) Preparing a Process Costing Production Report [LO 3-2, 3-3, 3-4, 3-5][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 thebeginning of the manufacturing process. Information for the month of March follows:Beginning work in process (30% complete)Direct materialsConversion costTotal cost of beginning work in processNumber of units startedNumber of units completed and transferred to finished goodsEnding ork in process (65% complete)Current period costsDirect materialsConversion costTotal current period costsPA3-4 (Algo) FIFO [LO 3-4, 3-5]Required:1. Using FIFO method of process costing, complete each of the following steps:a. Reconcile the number of physical units worked on during the period.b. Calculate the number of equivalent units.c. Calculate the cost per equivalent unit.d. Reconcile the total cost of work in process.Complete this question by entering your answers in the tabs below.Req 1AReq 1BReq 1CBeginning InventoryStarted and CompletedEnding inventoryTotal Cost Accounted forReq 1DPrior Period Costs$Using FIFO method of process costing, reconcile the total cost of work in process.Note: Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollaramount.0 $< Req 1CCurrent Period CostsDirect Materials0 $Units124,300240,000334,500?Req ID >Conversion0Costs$$ 189,000341,000$ 530,000$ 504,400645,0001,149,400Total Cost0

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PA3-3 and PA3-4 (Algo) Preparing a Process Costing Production Report [L [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: Beginning work in process (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Units 124,300 240,000 334 59A Costs $ 189,000 341,000 $530,000

PA3-3 and PA3-4 (Algo) Preparing a Process Costing Production Report [L [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: Beginning work in process (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Units 124,300 240,000 334 59A Costs $ 189,000 341,000 $530,000

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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Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for September: Work in process, September 1 Work in process September 30 Started into Production during September O 247,000 O 232,000 O 265,000 Units O 238,000 75,000 70,000 200,000 Percent Completed What is the equivalent units of production for materials for September? Materials 80% 60% Conversion 50% 40%
make a cost of production report using process costing fifo method
Subject: acounting
The debits to Work-In process for Dep# 2 for the month of March of the current year, together with the information concerning production, are presented below. All direct materials came from Dep# 1. The units completed include 1,200 in process during the beginning of the period. Dep# 2 uses WA costing
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