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 1 (100% complete for materials, 41% for conversion} 16,600 units Direct materials Conversion cost S 22,000 S 40,000 Number of units started 47,400 units April costs Direct materials Conversion cost S 68,800 $ 91,800 Work in process, April 30 (100% complete for materials, 21% for conversion) 16,000 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 Iventory Total Unils

Explanation / Answer

physical physical 1) units units Beginning units 16,600 units completed 48,000 units started 47,400 ending units 16,000 Total units 64,000 total units 64,000 Equivalent units physical direct CC 2) units materials units completed 48,000 48,000 48,000 ending inventory 16,000 16,000 3360 total units 64,000 64,000 51,360 3) DM CC cost per equivalent units 1.41875 2.5662 beginning cost 22,000 40,000 cost added during the year 68,800 91,800 total cost 90,800 131,800 equivalent units 64,000 51,360 cost per Equivalent units 1.41875 2.56620 4) DM CC total cost units completed 68100 123178 191278 ending inventory 22700 8622 31322 total cost account for 90800 131800 222600

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