PA3-1 (Algo) 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 (23% complete)	36,000
Direct materials		$	35,000
Conversion cost			94,000
Total cost of beginning work in process		$	129,000
Number of units started	69,000
Number of units completed and transferred to finished goods	?
Ending work in process (60% complete)	85,000
Current period costs
Direct materials		$	95,000
Conversion cost			157,000
Total current period costs		$	252,000

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.

d. Reconcile the total cost of work in process.

Req 1A Reg 1B Reg 10 Req 1D Using the weighted average method of process costing, reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Started Total Units Units Completed Ending Units Total Units 0 0 Reg 1A Reg 1B Req 10 Req 1D Using the weighted-average method of process costing, calculate the number of equivalent units. Equivalent Units Direct Materials Conversion Physical Units Units Completed Ending Inventory Total 0 0 Reg 1A Reg 1B Req 1C Req 1D Using the weighted average method of process costing, calculate the cost per equivalent unit. (Round Cost per Equivalent Unit to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit Reg 1A Reg 1B Reg 10 Req 1D Using the weighted average method of process costing, 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 Cost Accounted for $ 0 $ 0 $ 0