Question: silver company manufactures kites and has the following information available...
Silver Company manufactures kites and has the following
information available for the month of April:
|Work in process, April 1|
|(100% complete for materials, 43% for conversion)||35,000||units|
|Number of units started||87,000||units|
|Work in process, April 30|
|(100% complete for materials, 26% for conversion)||34,000||units|
Using the weighted-average method, complete each of the following steps:
1. Reconcile the number of physical units worked on during the period.
2. Calculate the number of equivalent units.
3. Calculate the cost per equivalent unit. (Round your answers to 5 decimal places.)
4. 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 whole dollar amount.)