Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 705 408 Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 74,000 367,000 357,000 84,000 759 256 Work in process, beginning Cost added during June Materials Conversion $ 28,000 $ 9,800 $ 299,600 $ 209,440 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. 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 to 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 Equivalent units of production Required 2 > 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 Ju 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and 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 per equivalent unit for materials and conversion in June. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit 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 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, 5. Prepare a cost reconciliation report for the Blending Department for June. 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 ending work in process inventory for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of ending work in process inventory 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 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, 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.) Materials Conversion Total Cost of units completed and transferred out 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 decima places.) Blending Department Cost Reconciliation Costs to be accounted for: Total cost to be accounted for Costs accounted for as follows: Total cost accounted for

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

Step: 3

blur-text-image

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

Culture Audit In Financial Services Reporting On Behaviour To Conduct Regulators

Authors: Dr Roger Miles

1st Edition

1789667755, 978-1789667752

More Books

Students also viewed these Accounting questions

Question

Explain the factors that determine the degree of decentralisation

Answered: 1 week ago

Question

What Is acidity?

Answered: 1 week ago

Question

Explain the principles of delegation

Answered: 1 week ago

Question

State the importance of motivation

Answered: 1 week ago

Question

Discuss the various steps involved in the process of planning

Answered: 1 week ago

Question

Understand the different approaches to job design. page 167

Answered: 1 week ago