Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. It makes blended tropical fruit drinks in twostages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are bottled andpacked for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department forJune.Work in process, beginningStarted into productionCompleted and transferred outWork in process, endingWork in process, beginningCost added during JuneRequired:For JunUnits68,000341,500331,50078,000Materials$ 25,000$ 267,500Equivalent units of productionMaterials70%MaterialsPercent CompletedComplete this question by entering your answers in the tabs below.75%Conversion$ 8,700$ 184,3501. Calculate the Blending Department's equivalent units of production for materials and conversion.2. Calculate the Blending Department's cost per equivalent unit for materials and conversion.3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total.4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total.5. Prepare a cost reconciliation report for the Blending Department.Required 1 Required 2 Required 3 Required 4 Required 5390,000Calculate the Blending Department's equivalent units of production for materials and conversion in June.ConversionConversion40%351,00025%

Name: Sunspot Beverages, Limited, of Fiji uses the weighted-average method
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Description: Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. It makes blended tropical fruit drinks in twostages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juice

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Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 68,000 341,500 331,500 78,000 Percent Completed Materials 70% 75% Materials Conversion $8,700 $ 25,000 $ 267,500 $ 184,350 Conversion 40% 25% Required: For June: 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total. 4 Calculate

Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 68,000 341,500 331,500 78,000 Percent Completed Materials 70% 75% Materials Conversion $8,700 $ 25,000 $ 267,500 $ 184,350 Conversion 40% 25% Required: For June: 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total. 4 Calculate

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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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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Question

Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and
packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for
June.
Work in process, beginning
Started into production
Completed and transferred out
Work in process, ending
Work in process, beginning
Cost added during June
Required:
For Jun
Units
68,000
341,500
331,500
78,000
Materials
$ 25,000
$ 267,500
Equivalent units of production
Materials
70%
Materials
Percent Completed
Complete this question by entering your answers in the tabs below.
75%
Conversion
$ 8,700
$ 184,350
1. Calculate the Blending Department's equivalent units of production for materials and conversion.
2. Calculate the Blending Department's cost per equivalent unit for materials and conversion.
3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total.
4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total.
5. Prepare a cost reconciliation report for the Blending Department.
Required 1 Required 2 Required 3 Required 4 Required 5
390,000
Calculate the Blending Department's equivalent units of production for materials and conversion in June.
Conversion
Conversion
40%
351,000
25%

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