PA3-3 Preparing a Process Costing Production Report (Weighted-Average Method) [LO 3-2, 3-3, 3-4] 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: Units Costs Beginning work in process (30% complete) 117,800 Direct materials $ 192,000 Conversion cost 344,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total cost of beginning work in process $ 536,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Number of units started 243,000 Number of units completed and transferred to finished goods 334,800 Ending work in process (65% complete) ? Current period costs Direct materials $ 507,400 Conversion cost 648,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Total current period costs $ 1,155,400 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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. Beginning units Units Completed Units stated Ending Units total Units total units b. Calculate the number of equivalent 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 Costs equivalent Unit: d. Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest dollar amount.) Direct Materials Conversion total Cost Units Completed: Ending Inventory: Total Costs Accounted For: check my workreferencesebook & resources