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Selzik Company makes super-premium cake mixes that go through two processing departments... Problem 4A-10 (Static) Equivalent Units of Production; Assigning Costs; Cost Reconciliation Report-FIFO Method
Selzik Company makes super-premium cake mixes that go through two processing departments...
Problem 4A-10 (Static) Equivalent Units of Production; Assigning Costs; Cost Reconciliation Report-FIFO Method (L04-6, LO4-7, LO4-8, LO4-9] 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 Production datar Unita in process, July 1 (material: 1001 complete conversion 301 complete) 10,000 Units started into production 170,000 Unite in process, July 31 (material: 100% complete conversion 401 complete) 20,000 Cost data Work in procesa inventory, July 11 Materials cont $ 8,500 Conversion cost $ 4,900 Cost added during the month Materials cout $139,400 Conversion cont $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 Step by Step Solution
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