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 $4,880, the cost of ending work in process inventory was $1,120, and the cost added to production was $25,300.
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 $4,880, the cost of ending work in process inventory was $1,120, and the cost added to production was $25,300.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Exercise 4-5 (Algo) Cost Reconciliation Report—Weighted-Average Method [LO4-5]
Maria Am Corporation uses the weighted-average method in its
Required:
Prepare a cost reconciliation report for the Baking Department for June.
![**Exercise 4-5 (Algo) Cost Reconciliation Report—Weighted-Average Method [LO4-5]**
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 $4,880, the cost of ending work in process inventory was $1,120, and the cost added to production was $25,300.
**Required:**
Prepare a cost reconciliation report for the Baking Department for June.
**Baking Department**
**Cost Reconciliation**
- **Costs to be accounted for:**
- (First cell for information)
- (Second cell for information)
- (Third cell for information)
- **Total cost to be accounted for**: $0
- **Costs accounted for as follows:**
- (First cell for information)
- (Second cell for information)
- (Third cell for information)
- **Total cost accounted for**: $0
*Note: The table is structured for inputting and comparing costs that need to be accounted for, and verifying with the actual costs accounted for. This ensures that all costs in the production process are properly reconciled.*](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16afad9b-824d-42b7-9e40-175f68ea31da%2F0cbe0fcc-cd91-4bfb-b581-214d37afef29%2F823u5e_processed.png&w=3840&q=75)
Transcribed Image Text:**Exercise 4-5 (Algo) Cost Reconciliation Report—Weighted-Average Method [LO4-5]**
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 $4,880, the cost of ending work in process inventory was $1,120, and the cost added to production was $25,300.
**Required:**
Prepare a cost reconciliation report for the Baking Department for June.
**Baking Department**
**Cost Reconciliation**
- **Costs to be accounted for:**
- (First cell for information)
- (Second cell for information)
- (Third cell for information)
- **Total cost to be accounted for**: $0
- **Costs accounted for as follows:**
- (First cell for information)
- (Second cell for information)
- (Third cell for information)
- **Total cost accounted for**: $0
*Note: The table is structured for inputting and comparing costs that need to be accounted for, and verifying with the actual costs accounted for. This ensures that all costs in the production process are properly reconciled.*
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