Sunspot Beverages, Limited, of Fiji uses the weighted-average method in its process costing system. It makes...
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Sunspot Beverages, Limited, 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. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 98,000 469,000 459,000 108,000 Percent Completed Materials 70% Equivalent units of production 75% Materials $ 40,100 Conversion $14,600 $ 429,700 $ 311,020 Complete this question by entering your answers in the tabs below. 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. Conversion Conversion 40% 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 25% Required 2 > Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. (Round your answers to 2 decimal places.) Cost per equivalent unit Materials Conversion Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Materials Cost of ending work in process inventory < Required 2 Conversion Total Required 4 > Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Cost of units completed and transferred out Total 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.) Costs to be accounted for Blending Department Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: Total cost accounted for $ $ < Required 4 0 0 Required > Sunspot Beverages, Limited, 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. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 98,000 469,000 459,000 108,000 Percent Completed Materials 70% Equivalent units of production 75% Materials $ 40,100 Conversion $14,600 $ 429,700 $ 311,020 Complete this question by entering your answers in the tabs below. 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. Conversion Conversion 40% 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 25% Required 2 > Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. (Round your answers to 2 decimal places.) Cost per equivalent unit Materials Conversion Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Materials Cost of ending work in process inventory < Required 2 Conversion Total Required 4 > Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Cost of units completed and transferred out Total 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.) Costs to be accounted for Blending Department Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: Total cost accounted for $ $ < Required 4 0 0 Required >
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Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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