Prepare cost reconciliation report for blending department

Assignment Help Financial Accounting

Reference no: EM131247564

Sunspot Beverages, Ltd., of Fiji 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 20,000 100% 75% Started into production 180,000 Completed and transferred out 160,000 Work in process, ending 40,000 100% 25% Materials Conversion Work in process, beginning $ 25,200 $ 24,800 Cost added during June $ 334,800 $ 238,700 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the Blending Department. 2. Compute the costs per equivalent unit for the Blending Department. (Round your answers to 2 decimal places.) 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the Bottling Department. 4. Prepare a cost reconciliation report for the Blending Department for June.

Reference no: EM131247564

Questions Cloud

Requires significant judgment on the part of the accountant : Is the adjusting entry process an exact science by which accountants can determine exactly how well a company has done for a period? Or is accounting an art that requires significant judgment on the part of the accountant? What are four types of adju..

Precondition for an audit : The Rivers Co. had four separate operating segments with total sales to outsiders of $526,400 and total intersegment revenue of $123,200. What amount of revenues must be generated from one customer before that party must be identified as a major cust..

Auditors report on public companys internal control : Which of the following statements is correct regarding the auditor's report on a public company's internal control over financial reporting?

Cost of short-term held-to-maturity debt security : When the cost of a short-term held-to-maturity debt security is different from the maturity value, the difference is amortized over the remaining life of the security. A basic present value concept is that cash paid or received in the future is worth..

Prepare cost reconciliation report for blending department : Sunspot Beverages, Ltd., of Fiji 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 ..

Accounts debited and credited for each transaction : A chart of accounts is a: list of account titles with corresponding reference numbers used by companies so that transaction items are consistently named. summary of each account's activity and its ending balance. list of each account and its balance ..

Represent typical process manufacturing industries : The following categories represent typical process manufacturing industries: Beverages, Chemicals, Food, Metals, Pharmaceuticals, Cosmetics. Typical products manufactured by the selected company, including brand names. Typical raw materials used by t..

Manufacturing overhead costs incurred : Manufacturing overhead costs incurred: Property taxes, factory $ 3,000 Utilities, factory 5,000 Indirect labor 10,000 Depreciation, factory 24,000 Insurance, factory 6,000 Total actual manufacturing overhead costs $ 48,000 Other costs incurred: Prepa..

Prepare an unadjusted trial balance : If total liabilities decreased by $25,200 and stockholders' equity increased by $4,900 during a period of time, then total assets must change by what amount and direction during the same time period? At September 30, Balance Corporation reported the ..

User Account

All Pages