Reference no: EM13655538

Preparing a Process Costing Production Report (Weighted-Average Method) [LO 3-2, 3-3, 3-4]

Saddle back 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: