80.2K

Verified Solution

Link Copied!

2 Problem 5-15 (Static) Comprehensive Problem-Weighted-Average Method [LO5-2, LO5-3, L05-4, LO5- 5) 3.5 points Sunspot Beverages, Limited, of Fiji uses the weighted-everage 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. Book Fereert Completed Materials Conversion 1004 750 Print Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 20,000 180,000 160,000 40.000 1000 25 Perences Work in procesa, beginning Coct added daring June Materiale conversion $ 25,200 $ 24,800 $ 334,800 $ 230,700 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Calculate the blending Department's equivalent units of production for materials and conversion in Junc, , Materials Conversion Equivalent units of production ( Required 1 Required 2 > 2 Problem 5-15 (Static) Comprehensive ProblemWeighted Average Method [LO5-2, LO5-3, LO5-4, LO5- 5] 3.5 points 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. eBook Percent Completed Materials Conversion 100% 75% Units 20,000 180,000 160,000 Work in process, beginning Started into production Completed and transferred out Work in process, ending Print 40,000 100% 25% References Work in process, beginning Cost added during June Materials $ 25, 200 $ 334,800 Conversion $ 24,800 $ 238,700 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. 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 cost per equivalent unit for materials and conversion in June. (Round your answers to 2 decimal places.). Materials Conversion Cost per equivalent unit 2 Problem 5-15 (Static) Comprehensive Problem-Weighted-Average Method [LO5-2, L05-3, L05-4, LO5- 5) 3.5 points 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. eBook Percent Completed Materials Conversion 1005 754 Print Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 20,000 180,000 160,000 40,000 100 25 References Work in process, beginning Cost added during June Materiale Conversion $ 25,200 $ 24.800 $ 334,800 $ 230,700 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. 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 cost of ending work in process inventory for materials, conversion, and in total for June. . (Round your intermediate calculations to 2 decimal places. Materials Conversion Total Cost of ending work in process inventory 2 Problem 5-15 (Static) Comprehensive Problem-Weighted-Average Method [LO5-2, LO5-3, LO5-4, LO5- 5] 3.5 points 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. eBook Percent Completed Materials Conversion 100% 75% Print Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 20,000 180,000 160,000 40,000 100% 25% References Work in process, beginning Cost added during June Materials $ 25, 200 $ 334,800 Conversion $ 24,800 $ 238,700 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 4 Required 5 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 Total Cost of units completed and transferred out 5 2 Problem 5-15 (Static) Comprehensive Problem-Weighted-Average Method [LO5-2, LO5-3, L05-4, LOS- 5] 3.5 points 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. eBook Percent Completed Materials Conversion 1009 75% Print Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 20,000 180,000 160,000 40,000 100% 25% References Work in process, beginning Cost added during June Materials $ 25,200 $ 334,800 Conversion $ 24,800 $ 238,700 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 2 Required 3 Required 4 4 Required 5 Prepare a cost reconciliation report for the Blending Department for June. (Round your intermediate calculations to 2 decimal places) Blending Department Cost Reconciliation Costs to be accounted for: $ 0 Total cost to be accounted for Costs accounted for as follows: : Total cost accounted for $ 0

Answer & Explanation Solved by verified expert

See Answer