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 nventory was $3,570, the cost of ending work in process inventory was $2,860, and the cost added to production was $43,120. Required: Prepare a cost reconciliation report for the Baking Department for June. 2.5 points Baking Department Cost Costs to be accounted for Total cost to be accounted for Costs accounted for as follows Total cost accounted for Reterences

Answer 1

Solution:
Cost Reconciliation report for the Baking Department for June:

Baking Department
Cost Reconciliation
Particulars	Amount ($)
Costs to be Accounted for:
Cost of beginning work in process inventory	$3,570
Cost added to production during the period	$43,120
Total cost to be Accounted for	$46,690
Cost accounted for as follows:
Cost of ending work in process inventory	$2,860
Cost of units completed and transferred out	$43,830
Total cost Accounted for	$46,690