Answered step by step
Verified Expert Solution
Question
1 Approved Answer
8 Selzik Company makes super-premium cake mixes that go through two processing departments-Blending and Packaging. The following activity was recorded in the Blending Department during
8 Selzik Company makes super-premium cake mixes that go through two processing departments-Blending and Packaging. The following activity was recorded in the Blending Department during July: 10 points 10,000 eBook 170,000 20,000 Print Production data: Units in process, July 1 (materials 100% complete; conversion 30% complete) Units started into production Units in process, July 31 (materials 100% complete; conversion 40% complete) Cost data: Work in process inventory, July 1: Materials cost Conversion cost Cost added during the month: Materials cost Conversion cost References $ 8,500 4,900 $ 139,400 $ 244,200 All materials are added at the beginning of work in the Blending Department. The company uses the FIFO method in its process costing system. Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion for July. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion for July. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for July. 4. Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for July 5. Prepare a cost reconciliation report for the Blending Department for July. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the Blending Department's equivalent units of production for materials and conversion for July. Materials Conversion Equivalent units of production Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for July. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of units transferred out
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started