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 Units Materials Conversion Work in process, beginning 72,000 70% 40% Started into production 358,500 Completed and transferred out 348,500 Work in process, ending 82,000 75% 25% Materials Conversion Work in process, beginning $ 26,900 $ 9,400 Cost added during June $ 288,800 $ 200,930 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.
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 Units Materials Conversion Work in process, beginning 72,000 70% 40% Started into production 358,500 Completed and transferred out 348,500 Work in process, ending 82,000 75% 25% Materials Conversion Work in process, beginning $ 26,900 $ 9,400 Cost added during June $ 288,800 $ 200,930 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Problem 4-15 (Algo) Comprehensive Problem-Weighted-Average Method [LO4-2, LO4-3, LO4-4, LO4-5]
Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its
| Percent Completed | |||
| Units | Materials | Conversion | |
| Work in process, beginning | 72,000 | 70% | 40% |
| Started into production | 358,500 | ||
| Completed and transferred out | 348,500 | ||
| Work in process, ending | 82,000 | 75% | 25% |
|
|
| Materials | Conversion | |||
| Work in process, beginning | $ | 26,900 | $ | 9,400 |
| Cost added during June | $ | 288,800 | $ | 200,930 |
|
|
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.
Transcribed Image Text: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
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 1
Required 2 >
Transcribed Image Text: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
< Required 4
Required 5 >
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