Question
Kings Corporations uses a process costing system. The Baking Department is one of the processing departments in its struden manufacturing facility. In July in
Kings Corporations uses a process costing system. The Baking Department is one of the processing departments in its struden manufacturing facility. In July in the Baking Department, the cost of beginning work in process inventory was $3,570, the cost of ending work in process inventory was $2,860, and the cost added to production was $43,120. Prepare a cost reconcialition report for the Baking Department for July. Costs to be accounted for: 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 Baking Department Cost of beginning work in process + inventory Costs added Cost of ending Cost of units to production = work in process + completed and during the period inventory transferred out
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