Blending Department. The two stages. Fruit juices are extracted fro ottled and packed for shipping in the Bottling Department. The following Information pertalns to the operat epartment for June. fresh fruits an Percent Completed Materials Conversion Units work in process, beginning started into production Completed and transferred out work in process, ending 184, eee 494, 5ee 484, 5e0 114, e00 70% 40% 75% 25% Materials Conversion work in process, beginning Cost added during June $ 44,300 $ 16,300 $ 474,400 $ 347,930 equlred: Calculate the Blending Department's equivalent units of production for materlals and conversion In June. Calculate the Blending Department's cost per equivalent unit for materlals and converslon In June. Calculate the Blending Department's cost of ending work in process Inventory for materials, converslon, a Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials or June. Prepare a cost reconcilation 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 places.) Blending Department
Blending Department. The two stages. Fruit juices are extracted fro ottled and packed for shipping in the Bottling Department. The following Information pertalns to the operat epartment for June. fresh fruits an Percent Completed Materials Conversion Units work in process, beginning started into production Completed and transferred out work in process, ending 184, eee 494, 5ee 484, 5e0 114, e00 70% 40% 75% 25% Materials Conversion work in process, beginning Cost added during June $ 44,300 $ 16,300 $ 474,400 $ 347,930 equlred: Calculate the Blending Department's equivalent units of production for materlals and conversion In June. Calculate the Blending Department's cost per equivalent unit for materlals and converslon In June. Calculate the Blending Department's cost of ending work in process Inventory for materials, converslon, a Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials or June. Prepare a cost reconcilation 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 places.) Blending Department
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Transcribed Image Text:Sunspot Beverages, Ltd., of FIJI uses the weighted-average method in Its process costing system. It makes blended tropical frult drinks
In two stages. Frult julces are extracted from fresh frults and then blended In the Blending Department. The blended julces are then
bottled and packed for shipping In the Bottling Department. The following Information pertalns to the operations of the Blending
Department for June.
Percent Completed
Materials
Units
Conversion
104, e0e
494, 5ee
484, 500
114,e00
40%
Work in process, beginning
started into production
Completed and transferred out
work in process, ending
70%
75%
25%
Materials conversion
Work in process, beginning
Cost added during June
24
44, 300 $
16,300
$ 474,400 $ 347,930
Requlred:
1. Calculate the Blending Department's equivalent units of production for materlals and converslon in June.
2. Calculate the Blending Department's cost per equivalent unit for materlals and converslon 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 reconcillation 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:
Total cost to be accounted for
Costs accounted for as follows:
Total cost accounted for
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