Question

9 Problem 4-15 (Static) Comprehensive Problem-Weighted Average Method (L04-2, LO4-3, L04-4, LO4-5) Sunspot Beverages, Ltd., o
TUULMS Server Sed mask png - Google Help Save 19 Work in process, beginning Started into production Completed and transferred
19 Materials Conversion 100 754 Work in process, beginning Started into production Completed and transferred out Work in proc
HIJ, LILLISUS, Problems Help 5 19 Work in process, beginning Started into production Completed and transferred out Work in pr
Help 19 Materials Conversion 1001 754 Work in process, beginning Started into production Completed and transferred out Work i
HW - CH 04 Concept Overviews, Exercises, Problems CHILI Error 502 (Server mask png - Goon Help Save 19 Work in process, begin
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Solution

Material Conversion
Equivalent Units of Production                             200,000                 170,000

.

Material Conversion
Cost per equivalent Unit $ 1.80 $ 1.55

.

Material Conversion Total
Cost of Ending work in process Inventory $ 72,000 $ 15,500 $ 87,500

.

Material Conversion Total
Cost of Units Completed and transferred out $ 288,000 $ 248,000 $ 536,000

.

Cost Reconciliation
Costs to be accounted for:
Beginning Wip cost $ 50,000
Cost incurred during period $ 573,500
Total cost to be accounted for $ 623,500
Costs accounted for as follows:
Cost of Units Transferred Out $ 536,000
Cost of Ending Wip $ 87,500
Total cost accounted for $ 623,500

Working

Statement of Equivalent Units(Weighted average)
Material Conversion
Units Complete % Equivalent units Complete % Equivalent units
Transferred out                             160,000 100%                  160,000 100%                 160,000
Ending WIP                                40,000 100%                    40,000 25%                   10,000
Total                             200,000 Total                  200,000 Total                 170,000

.

Cost per Equivalent Units (Weighted average)
COST Material Conversion TOTAL
Beginning WIP Inventory Cost (A) $ 25,200 $ 24,800 $ 50,000
Cost incurred during period (B) $ 334,800 $ 238,700 $ 573,500
Total Cost to be accounted for (C=A+B) $ 360,000 $ 263,500 $ 623,500
Total Equivalent Units(D)                 200,000                  170,000
Cost per Equivalent Units (E=C/D) $ 1.80 $ 1.55 $ 3.35

.

Statement of cost (Weighted average)
Cost Equivalent Cost/unit Ending WIP Transferred
Units Cost Allocated Units Cost Allocated
Material $ 1.80                   40,000 $          72,000.00                     160,000 $        288,000.00
Conversion $ 1.55                   10,000 $          15,500.00                     160,000 $        248,000.00
TOTAL $ 623,500 TOTAL $ 87,500 TOTAL $ 536,000
Add a comment
Know the answer?
Add Answer to:
9 Problem 4-15 (Static) Comprehensive Problem-Weighted Average Method (L04-2, LO4-3, L04-4, LO4-5) Sunspot Beverages, Ltd., of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Problem 4-15 Comprehensive Problem-Weighted Average Method (LO4-2, LO4-3, LO4.4, LO4-5) Sunspot Beverages, Ltd., of Fiji uses...

    Problem 4-15 Comprehensive Problem-Weighted Average Method (LO4-2, LO4-3, LO4.4, LO4-5) Sunspot Beverages, Ltd., 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. Percent Completed Materials Conversion 100%...

  • Problem 4-15 Comprehensive Problem-Weighted-Average Method (L04-2, L04-3, LO4-4, LO4-5) Sunspot Beverages, Ltd., of Fiji uses the...

    Problem 4-15 Comprehensive Problem-Weighted-Average Method (L04-2, L04-3, LO4-4, LO4-5) Sunspot Beverages, Ltd., 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. Percent Completed Materials Conversion 100% 75% Work...

  • Problem 4-15 Comprehensive Problem-Weighted-Average Method (L04-2, LO4-3, LO4-4, LO4-5) Sunspot Beverages, Ltd., of Fiji uses the...

    Problem 4-15 Comprehensive Problem-Weighted-Average Method (L04-2, LO4-3, LO4-4, LO4-5) Sunspot Beverages, Ltd., 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. Percent Completed Units Materials Conversion Work...

  • PROBLEM 4-15 Comprehensive Problem-Weighted Average Method L04-2, L04-3, L04-4, L04-5 Sunspot Beverages, Ltd., of Fiji uses...

    PROBLEM 4-15 Comprehensive Problem-Weighted Average Method L04-2, L04-3, L04-4, L04-5 Sunspot Beverages, Ltd., 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 for Department Blending Department for June. Units Percent Completed...

  • thank you PROBLEM 5-15 Comprehensive Problem-Weighted Average Method L05-2. LO5-3, LO5-4. LO5-5 Sunspor Beverages, Ltd., of...

    thank you PROBLEM 5-15 Comprehensive Problem-Weighted Average Method L05-2. LO5-3, LO5-4. LO5-5 Sunspor Beverages, Ltd., of Fiji uses the weighted average method in ils 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 Percent Completed Materials...

  • Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It...

    Sunspot Beverages, Ltd., 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. Percent Completed Materials Conversion 100% 75% Work in process, beginning Started into production Completed and...

  • Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It...

    Sunspot Beverages, Ltd., 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. Percent Completed Materials Conversion 1000 750 Work in process, beginning Started into production Completed and...

  • Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes...

    Sunspot Beverages, Ltd., 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. Percent Completed Units Materials Conversion Work in process, beginning 20,000 100% 75% Started into production 180,000...

  • Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes...

    Sunspot Beverages, Ltd., 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. Percent Completed Units Materials Conversion Work in process, beginning 20,000 100% 75% Started into production 180,000...

  • PROBLEM 5-15 Comprehensive Problem-Weighted-Average Method L05-2, L05-3, LOS LO5-5 Sunspot Beverages, Ltd., of Fiji uses the...

    PROBLEM 5-15 Comprehensive Problem-Weighted-Average Method L05-2, L05-3, LOS LO5-5 Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It make blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blend in the Blending Department. The blended juices are then bottled and packed for shipping in the Boll Department. The following information pertains to the operations of the Blending Department for June Percent Completed Materials Conversion 100% 75%...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT