Answered step by step
Verified Expert Solution
Question
1 Approved Answer
TWO PARTS TO ONE QUESTION PLZ ANSWER BOTH THANK YOU Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department
TWO PARTS TO ONE QUESTION PLZ ANSWER BOTH THANK YOU
Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process Inventory was $4,820, the cost of ending work in process inventory was $1,180, and the cost added to production was $25,150. Required: Prepare a cost reconciliation report for the Baking Department for June. Baking Department Cost Reconciliation Costs to be accounted for Total cost to be nocounted for Conts accounted for as follows: Total cost accounted for Che Hellox Corporation uses the weighted average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: 1001 201 Work in process inventory, May 1 Work in process inventory, May 31 Materiale cont in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Unita transferred to the next production department Materials cont added during May Conversion cost added during May Percent Complete Unita Materials Conversion 74,000 308 54,000 1000 $ 58,800 $17.500 262,400 282,400 $143,040 $252,244 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May 2. Compute the first production department's cost per equivalent unit for materials and conversion for May 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the first production department's equivalent units of production for materials and conversion for May. Materials Conversion Equivalent units of production Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started