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. Percent Completed Units Materials Conversion Work in process, beginning 108,000 Started into production 511,500 Completed and transferred out 501,500 Work in process, ending 118,000 75% 25% Work in process, beginning Cost added during June Materials $ 46,800 $ 501,900 Conversion $ 17,400 $ 370,230 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. (Hint: See p. 203 in your book for an example of this type of report in the format it is asking for here.) Complete this question by entering your answers in the tabs below. 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. Percent Completed Units Materials Conversion Work in process, beginning 108,000 Started into production 511,500 Completed and transferred out 501,500 Work in process, ending 118,000 75% 25% Work in process, beginning Cost added during June Materials $ 46,800 $ 501,900 Conversion $ 17,400 $ 370,230 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. (Hint: See p. 203 in your book for an example of this type of report in the format it is asking for here.) Complete this question by entering your answers in the tabs below.
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To calculate the required information we will follow these steps Step 1 Calculate the equivalent units of production for materials and conversion Step ... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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