Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information:

Required:
1. 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.
b. Calculate the number of equivalent units.
c. Calculate the cost per equivalent unit rounded to five decimal points.
d. Reconcile the total cost of work in process.
2. Summarize the preceding steps in a production report for SandiaCorporation.

Transcribed Image Text:

Units Costs Beginning work in process (30% complete) 80,000 Direct materials Conversion cost $80,000 190,000 $270,000 Total cost of beginning work in process 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 Direct materials Conversion cost Total current period costs $180,000 314,000 $494,000