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 (22% complete) Direct materials 44,000 $ 31,000 97,000 $128,000 Conversion cost Total cost of beginning work in process 75,000 Number of units started Number of units completed and transferred to finished goods Ending work in process (53% complete) Current period costs Direct materials ? 75,000 $100,000 153,000 $253,000 Conversion cost Total current period costs 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 Units Completed Beginning Units Ending Units Units Started 0 0 Total Units Total Units b. Calculate the number of equivalent units. Equivalent Units Conversion Physical Units Direct Materials Units Completed Ending Inventory Total 0

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 (22% complete) Direct materials 44,000 $ 31,000 97,000 $128,000 Conversion cost Total cost of beginning work in process 75,000 Number of units started Number of units completed and transferred to finished goods Ending work in process (53% complete) Current period costs Direct materials ? 75,000 $100,000 153,000 $253,000 Conversion cost Total current period costs 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 Units Completed Beginning Units Ending Units Units Started 0 0 Total Units Total Units b. Calculate the number of equivalent units. Equivalent Units Conversion Physical Units Direct Materials Units Completed Ending Inventory Total 0

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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