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Maria Am Corporation uses the weighted-average method in its process costing system. The Baking Department is...

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Accounting

Maria Am Corporation uses the weighted-average method in itsprocess costing system. The Baking Department is one of theprocessing departments in its strudel manufacturing facility. InJune in the Baking Department, the cost of beginning work inprocess inventory was $4,890, the cost of ending work in processinventory was $1,170, and the cost added to production was$25,300.

Required:  

Prepare a cost reconciliation report for the Baking Departmentfor June.

Answer & Explanation Solved by verified expert
3.9 Ratings (534 Votes)

  • Cost reconciliation

Costs to be accounted for:

   Cost of Beginning WIP Inventory

$              4,890.00

   Cost added to production during the period

$           25,300.00

        Total Cost to be accounted for

$           30,190.00

Costs accounted for as follows:

Cost of units transferred out [$ 30190 - $ 1170]

$           29,020.00

Cost of Ending WIP Inventory

$              1,170.00

       Total Cost accounted for

$           30,190.00

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