boxer corporation manufactures metal toolboxes it adds all ma 380885
Boxer Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information:
| Beginning work in process (23% complete) | 39,000 units | ||
| Direct materials | $ | 40,000 | |
| Conversion cost | 88,000 | ||
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| Total cost of beginning work in process | $ | 128,000 | |
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| Number of units started | 68,000 | ||
| Number of units completed and transferred to finished goods | 81,000 | ||
| Ending work in process (59% complete) | |||
| Direct materials cost incurred | $ | 86,000 | |
| Conversion cost applied | 159,000 | ||
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| Total cost added | $ | 245,000 | |
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| Required: |
| 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 | |||||
| Beginning units | Units completed | |||||
| Units started | Ending units | |||||
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| Total units | Total units | |||||
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| (b) | Calculate the number of equivalent units. |
| Equivalent Units | ||||
| Direct Materials | Conversion | |||
| Units completed | ||||
| Ending inventory | ||||
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| Total | ||||
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| (c) |
Calculate the cost per equivalent unit. (Round your answers to 5 decimal places. Omit the “$” sign in your response.) Don't use plagiarized sources. Get Your Custom Essay on
boxer corporation manufactures metal toolboxes it adds all ma 380885
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| Direct Materials | Conversion | |||||
| Cost per equivalent unit | $ | $ | ||||
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| (d) |
Reconcile the total cost of work in process. (Use rounded cost per Equivalent unit. Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) |
| Direct Materials | Conversion | Total Cost | |||||||
| Units completed | $ | $ | $ | ||||||
| Ending inventory | |||||||||
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| Total cost accounted for | $ | $ | $ | ||||||
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