Sunspot Beverages, Ltd., of Fijl uses the weighted-average method In Its process costing system. It makes blended tr In two stages. Fruit Jutces are extracted from fresh frults ànd then blended in the Blending Department The blended bottled and packed for shipping In the Botling Department. The following Information pertains to the operations of th Department for June. Units 104,000 Percent Completed Materials 70% Conversion 40% work in process, beginning started into production Completed and transfenned out Work in process, ending 484,500 114,e00 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 44,300 $ 16,300 $ 474,480 $ 347,930 Required: Calculate the Biending Department's eguivatent units of production for materlais and conveiSion in June. 2 Calculate the Blending Department's cost per eguivalent unit for materiais and conversion In June. 3 Calculate the Blending Department's cost of ending work In process inventory for materiais, conversten, and A tota fo 4 Calculate the Blending Depatment's cost of units transferred out to the Bottling Department for materials, conversion 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 I Required 2 Required 3 Required 4 Required 5 Prenare a cost reconciliation report for the Blending Department for June, (Round your intermediate calculations to 2 decimal
Sunspot Beverages, Ltd., of Fijl uses the weighted-average method In Its process costing system. It makes blended tr In two stages. Fruit Jutces are extracted from fresh frults ànd then blended in the Blending Department The blended bottled and packed for shipping In the Botling Department. The following Information pertains to the operations of th Department for June. Units 104,000 Percent Completed Materials 70% Conversion 40% work in process, beginning started into production Completed and transfenned out Work in process, ending 484,500 114,e00 75% 25% Work in process, beginning Cost added during June Materials Conversion $ 44,300 $ 16,300 $ 474,480 $ 347,930 Required: Calculate the Biending Department's eguivatent units of production for materlais and conveiSion in June. 2 Calculate the Blending Department's cost per eguivalent unit for materiais and conversion In June. 3 Calculate the Blending Department's cost of ending work In process inventory for materiais, conversten, and A tota fo 4 Calculate the Blending Depatment's cost of units transferred out to the Bottling Department for materials, conversion 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 I Required 2 Required 3 Required 4 Required 5 Prenare a cost reconciliation report for the Blending Department for June, (Round your intermediate calculations to 2 decimal
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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Transcribed Image Text:Sunspot Beverages, Ltd., of FIji uses the weighted-average method In Its process costing system. It makes blended tropical frun dinks
In two stages. Frult 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 Biendimg
Department for June.
Percent Completed
Materials
70%
Units
104,900
494,S0
484,500
114, e00
Conversion
40%
Work in process, beginning
Started into production
Completed and transfenred out
work in process, ending
75%
25%
Work in process, beginning
Cost added during June
Materials Conversion
$44,300 S 16,300
$ 474,400 $ 347,930
Required:
4 Calcutate the Blending Department's equivatent units of production for materlais 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, converston, and in total for June.
4 Calculate the Blending Depariment's cost of units transferred out to the Bottling Department for materiais, conversion, and in total
fer 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.)
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