Ridgecrest Company manufactures plastic storage crates and has the following inf

Question

Ridgecrest Company manufactures plastic storage crates and has the following information available for the month of April Work in process, April T (100% complete for materials, 42% for conversion) 19,600 units Direct materials Conversion cost $23,000 $37,000 Number of units started 56,400 units April costs Direct materials Conversion cost $72,800 $ 106,800 Work in procesS, April 30 (100% complete for materials, 24% for conversion) 14,000 units Required Using the weighted-average method of process costing, complete each of the following steps 1. 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 2. Calculate the number of equivalent units Equivalent Units Physical Units Direct Materials Conversion Units Completed Ending Inventory Total Units

Explanation / Answer

1 Physical units Physical units Beginning units 19600 Units completed 62000 Units started 56400 Ending units 14000 Total units 76000 Total units 76000 2 Physical units Direct materials Conversion Units completed 62000 62000 62000 Ending units 14000 14000 3360 Total units 76000 76000 65360 3 Direct materials Conversion Total costs 95800 143800 Equivalent units 76000 65360 Cost per Equivalent unit 1.26053 2.20012 4 Direct materials Conversion Total Units completed 78153 136407 214560 Ending inventory 17647 7392 25040 Total cost accounted for 95800 143800 239600 Alternatively: 4 Direct materials Conversion Total Units completed 78153 136407 214560 Ending inventory 17647 7392 25039 Total cost accounted for 95800 143799 239599

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