Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. It makes blended tropical...
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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. Percent Completed Units Materials Conversion Work in process, beginning 62,000 70% 40% Started into production 316,000 Completed and transferred out 306,000 Work in process, ending 72,000 75% 25% Materials Work in process, beginning $ 22,100 Conversion $ 7,600 Cost added during June Required: For June: $ 237,100 $ 160,880 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. 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 > 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. Percent Completed Units Materials Conversion Work in process, beginning 62,000 70% 40% Started into production 316,000 Completed and transferred out 306,000 Work in process, ending 72,000 75% 25% Materials Work in process, beginning $ 22,100 Conversion $ 7,600 Cost added during June Required: For June: $ 237,100 $ 160,880 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. 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 >
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To solve this problem well use the weightedaverage method for process costing First we need to calculate the equivalent units of production for materials and conversion for June Given data Work in pro... 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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