Question

Saved Maria Am Corporation uses the weighted average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process Inventory was $4,830, the cost of ending work in process inventory was $1,130, and the cost added to production was $25.250. Required: Prepare a cost reconciliation report for the Baking Department for June. Baking Department Cost Reconciliation Costs to be accounted for Total cost to be accounted for Costs accounted for as follows: Total cost accounted for < Prev 4 of 5 Next >

Answer 1

Cost reconciliation report for the Baking Department for June:- Particulars Amount $ Cost to be accounted for : Cost of beginning work in process inventory 4,830 Cost added to production during the period 25,250 Total cost to be accounted for 30,080 Cost accounted for as follows :- Cost of ending work in process inventory 1,130 Cost of units transferred out 28,950 Total cost accounted for 30,080 Note:- Cost of units transferred out = Total cost to be accounted for - Cost of ending work in process inventory - (30080-1130) - $ 28,950/.