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Arboles Company manufactures pencils and has the following information available for the month of July:...

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Accounting

Arboles Company manufactures pencils and has the following information available for the month of July:
Work in process, July 1
(100% complete for materials, 60% for conversion)
75,000 units
Direct materials
$5,000
Conversion cost
$17,500
Number of units started
100,000 units
July costs
Direct materials
$6,500
Conversion cost
$24,000
Work in process, July 31
(100% complete for materials, 10% for conversion)
70,000 units
Required:
Using the weighted-average method of process costing, complete each of the following steps:
Reconcile the number of physical units worked on during the period.
Calculate the number of equivalent units.
Calculate cost per equivalent unit, rounded to five decimal places.
Reconcile the total cost of work in process.
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