Question

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 $25,600. 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

Answer 1

Baking Department Cost Reconciliation
Costs to be accounted for:
Cost of beginning work in process inventory	$ 4,830
Costs added to production during the period	$ 25,600
Total cost to be accounted for	$ 30,430
Costs accounted for as follows:
Cost of ending work in process inventory	$ 1,130
Cost of units completed and transferred out ( $ 30,430 (-) $ 1,130 )	$ 29,300
Total cost accounted for	$ 30,430