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I am in Managerial Accounting and am stuck on how to do this problem. I've tried many different answers for all the parts of the
I am in Managerial Accounting and am stuck on how to do this problem. I've tried many different answers for all the parts of the question but to no avail. If I could get some help on how to even start this correctly that would be great.
Units Materials Conversion 100% 75% Work in process, beginning Started into production Completed and transferred out Work in process, 20,000 180,000 180,000 40,000 ending 100% 25% Materials Conversion Work in process, beginning 25,200 24,800 5 334,800 238,700 Cost added during June Assume that the company uses the FIFO method rather than the weighted-average method in its process costing system. Required 1. Determine the equivalent units for June for the Blending Department Materials onversion Equivalent units of production 160,000 40,000 2. Compute the costs per equivalent unit for June for the Blending Department. (Round your answers to 2 decimal places.) Materials Cost per equivalent unit 2.39 5.97 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process for the Blending Department in June. (Do not round your intermediate calculations.) Total Cost of ending work in process inventory Cost of units transferred out 4. Prepare a cost reconciliation report for the Blending Department for June. (Do not round your intermediate calculations.i Baking Department Cost Reconciliation Costs to be accounted for Cost of beginning work in process inventory Costs added to production during the period S 50,000 573,500 5 623,500 Total cost to be accounted for Costs accounted for as follows Cost of ending work in process inventory Costs of units transferred out Total cost accounted forStep by Step Solution
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