Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

25 In July, one of the processing departments at Wrightsel Corporation had beginning work in process inventory of $33,000 and ending work in process inventory

25

In July, one of the processing departments at Wrightsel Corporation had beginning work in process inventory of $33,000 and ending work in process inventory of $23,000. During the month, $233,000 of costs were added to production and the cost of units transferred out from the department was $243,000.

Required:

Construct a cost reconciliation report for the department for the month of July. (Omit the "$" sign in your response.)

Cost Reconciliation
Costs to be accounted for:
(Click to select)Cost of ending work in process inventoryCost of beginning work in process inventoryCost of units transferred out $_____
(Click to select)Costs added to production during the monthCost of units transferred outCost of ending work in process inventory $______
Total cost to be accounted for $_______
Costs accounted for as follows:
(Click to select)Cost of beginning work in process inventoryCost of ending work in process inventoryCosts added to production during the month $_____
(Click to select)Costs added to production during the monthCost of beginning work in process inventoryCost of units transferred out $_______
Total cost accounted for $_____

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Principles And Practice Of Auditing

Authors: George Puttick, Sandra Van Esch

7th Edition

0702137723, 978-0702137723

More Books

Students also viewed these Accounting questions

Question

How can you create a supportive context for your personal growth?

Answered: 1 week ago

Question

How do romantic relationships typically escalate and deteriorate?

Answered: 1 week ago