questions 4&5
totals "costs to account for" in the bottom row of the table in step 3. 4) Sale of Finished Goods: Accounting for the analysis. As units are completed in the Bottling department, they are moved to Finished Goods Inventory where they are ready to be sold. The analysis above determines the dollar value of those completed units. a) Write the journal entry to move these costs from WIP-Bottling Inventory account to Finished Goods Inventory account. Post the JE to the WIP-Bottling and Finished Goods T-accounts attached at the end of the project. Determine the ending balance for WIP-Bottling account. Balance should equal first row from table in 3e. 6 b) Assume the Finished Goods Inventory was zero at the beginning of June and zero at the end of June. How many units did they sell during June? c) If Sunspot Beverages, Ltd. sold each unit for $12.00 what would their sales revenue be? Write the journal entry to record the sales revenue for June. d) How much is their expense (COGS)? Write the journal entry to record the COGS for June. Post this entry to the Finished Goods account attached at the end of the project. 5) Raw Material: The company uses no indirect material and the Raw Material Inventory began the month with $120,000 and ending the month with $98,000. How much raw material inventory did the company purchase during June? Write the summary journal entry to record the purchase. Post the journal entry to the T-account provided at the end of the attachment information ed 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. Percent Completed Materials Conversion 70% 40% Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 52,000 273,500 263,500 62,000 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 17,500 5 5,300 $ 187,100 $ 111,880 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. 7576 25% Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,389 $ 187,100 $ 111,880 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 Calculate the Blending Department's equivalent units of production for materials and conversion in June. Materials Conversion 279,000 Equivalent units of production 310,000 Required 2 > Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,300 $ 187,189 $ 111,880 rded 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. 1 ances 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 per equivalent unit for materials and conversion in June. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent $ 0.66S 0.42 unit Prey 7 of 9 !!! Next > 62,00 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,300 $ 187,100 $ 111,880 ded 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 Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Total Cost of ending work in process Inventory Materials Conversion 30,690$ 6.510$ $ 37,200 Work in process, ending 263,5 62,000 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,300 $ 187,100 $ 111,880 rded 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 Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Conversion Total Cost of units completed and transferred out Materials S 173,910 110.670 S 284 580 TI 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 Cost of beginning work in process inventory $ 22,800 Costs added to production during the period 298,980 Total cost to be accounted for $ 321,780 Costs accounted for as follows: Cost of ending work in process inventory $ 37,200 Cost of units completed and transferred out 284,580 Total cost accounted for $ 321,780 Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,300 $ 187,189 $ 111,880 rded 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. 1 ances 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 per equivalent unit for materials and conversion in June. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent $ 0.66S 0.42 unit Prey 7 of 9 !!! Next > 62,00 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,300 $ 187,100 $ 111,880 ded 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 Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Total Cost of ending work in process Inventory Materials Conversion 30,690$ 6.510$ $ 37,200 Work in process, ending 263,5 62,000 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 17,500 $ 5,300 $ 187,100 $ 111,880 rded 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 Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Conversion Total Cost of units completed and transferred out Materials S 173,910 110.670 S 284 580 TI 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 Cost of beginning work in process inventory $ 22,800 Costs added to production during the period 298,980 Total cost to be accounted for $ 321,780 Costs accounted for as follows: Cost of ending work in process inventory $ 37,200 Cost of units completed and transferred out 284,580 Total cost accounted for $ 321,780
