Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work 5 Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks

image text in transcribedimage text in transcribed

Check my work 5 Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. 2 points Percent Completed Materials Conversion 70% 40% eBook Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 64,000 324,500 314,500 74,000 Print 75% 25% References Work in process, beginning Cost added during June Materials Conversion $ 23,000 $ 7,900 $ 247,100 $ 168,590 Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a cost reconciliation report for the Blending Department for June. (Round your intermediate calculations to 2 decimal places.) Blending Department Cost Reconciliation Costs to be accounted for: $ 0 Cost of beginning work in process inventory Costs added to production during the period Total cost to be accounted for Costs accounted for as follows: Cost of ending work in process inventory Cost of units completed and transferred out Total cost accounted for $ 50,320 396,270 446,590

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting Ba 213 At Central Oregon Community College

Authors: Albrecht

1st Edition

1111523622, 978-1111523626

More Books

Students also viewed these Accounting questions

Question

What are the usual steps followed in adjusting a closed traverse?

Answered: 1 week ago

Question

Find dy/dx if x = te, y = 2t2 +1

Answered: 1 week ago