Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 70,000 460,000 450,000 80,000 Materials $36,550 $ 391,850 Percent Completed. Materials 70% 75% Conversion $ 13,500 $ 287,300 Conversion 40% 25% Required: For June: 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total.

Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 70,000 460,000 450,000 80,000 Materials $36,550 $ 391,850 Percent Completed. Materials 70% 75% Conversion $ 13,500 $ 287,300 Conversion 40% 25% Required: For June: 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total.

Name: A-1 Sunspot Beverages, Limited, of Fiji uses the weighted-average meth
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Description: A-1 Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. It makes blended tropical fruit drinks in twostages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended ju

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter17: Process Cost Systems

Section: Chapter Questions

Problem 1E: Entries for materials cost flows in a process cost system The Hershey Company manufactures chocolate...

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Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 64,000 324,500 314,500 74,000 Materials $ 23,000 $ 247,100 Equivalent units of production Materials Percent Completed Materials 70% Complete this question by entering your answers in the tabs below. 75% Conversion $ 7,900 $ 168,590 Required: For June: 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials and…
Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Required: For Jun Units 68,000 341,500 331,500 78,000 Materials $ 25,000 $ 267,500 Equivalent units of production Materials 70% Materials Percent Completed Complete this question by entering your answers in the tabs below. 75% Conversion $ 8,700 $ 184,350 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials and…
Sunspot Beverages, Limited, of Fiji uses the weighted-average method of process costing. 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 bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 78,000 384,000 374,000 88,000 Materials $ 30,400 $ 326,000 Percent Completed Materials 70% Required 1 Required 2 Required 3 Required 4 75% Conversion $ 10,800 $ 230,760 Complete this question by entering your answers in the tabs below. Required: For June: 1. Calculate the Blending Department's equivalent units of production for materials and conversion. 2. Calculate the Blending Department's cost per equivalent unit for materials…
Sunspot Beverages, Limited, 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. Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 66,000 333,000 323,000 76,000 Materials Percent Completed Materials 70% $ 24,000 $ 257, 200 75% Conversion 40% Conversion $ 8,300 $ 176,380 25% Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. 3. Calculate the Blending Department's cost of ending…
Susu Segar Sdn Bhd is the producer of dairy products. One of its products, Milky is the main product for the company. The production of Milky involves two sequential processing departments namely Freezing Department and Packaging Department. In Freezing Department, all direct materials are added at the beginning of the process. Whereas in Packaging Department, all direct materials are added at the ending of the process. Conversion cost occurs uniformly throughout the production process for both departments. The following information relates to Packaging Department for the month of October 2006: Cost of beginning work in process inventory: Transferred-in Direct materials Direct labour Manufacturing overhead Percentage of completion (conversion cost): Beginning work in process inventory Ending work in process inventory RM61,000 RM69,000 RM40,000 RM24,200 60% 70% Cost in the current period:…
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 julces 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 pertalns to the operations of the Blending Department for June. Percent Completed Materials Conversion Work in process, beginning Started into production Completed and transferred out Work in process, ending Units 104,000 494,500 484,500 114,000 70% 40% 75% 25% Materials Conversion Work in process, beginning Cost added during June $ 44,300 $ 16,300 $ 474,400 $ 347,930 Requlred: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equlvalent unit for materlals and conversion in June. 3. Calculate the Blending Department's cost of ending…
Zia Company makes flowerpots from recycled plastic in two departments, Molding and Packaging. Zia uses the weighted average method, and units completed in the Molding department are transferred to the Packaging department. Production unit Information for the Molding department follows. Molding-Direct Materials Beginning work in process inventory Units started this period Ending work in process inventory Production cost Information for the Molding department for the same period follows. Units Beginning work in process inventory (direct materials) Direct materials added this period 3,900 27,500 3,000 (b) Equivalent units of production (c) Cost per equivalent unit of production Percent Complete 70% QS 16-18 (Algo) Weighted average: Computing equivalent units and cost per EUP (direct materials) LO P1 80% Compute the Molding department's (a) units completed and transferred out, (b) equivalent units of production for direct materials, and c) cost per equivalent unit of production for direct…
For all Problems, assume the weighted-average method is to be used unless you are told otherwise. Preparing a production cost report, second department, with beginning WIP and transferred in costs; journal entries; FIFO method Happy Colors manufactures crayons in a three-step process: mixing, molding packaging. The Mixing Department combines the direct materials of paraffin wax and pigments. The heated mixture is pumped to the Molding Department, where it is poured into molds. After the molds cool, the crayons are removed from the molds and are transferred to the Packaging Department, where paper wrappers are added and the crayons are boxed. In the Mixing Department, the direct materials are added at the beginning of the process and the conversion costs are incurred evenly throughout the process. Work in process of the Mixing Department on April 1, 2018, consisted of 300 batches of crayons that were 30% of the way through the production process. The beginning balance in Work-in-Process…
Nut House manufactures and sells jars of peanut butter. All of the company’s output passes through five production pro-cesses, which are performed in sequential order. Identify all correct answers, assuming that process costing is in use. a. The processing departments may define “units of out-put” differently. b. Costs transferred from one processing department are charged to the next processing department (or to fin-ished goods).
Sunspot Beverages, Ltd., of FIJI uses the weighted-average method in Its process costing system. It makes blended tropical frult drinks In two stages. Frult julces are extracted from fresh frults and then blended In the Blending Department. The blended julces are then bottled and packed for shipping In the Bottling Department. The following Information pertalns to the operations of the Blending Department for June. Percent Completed Materials Units Conversion 104, e0e 494, 5ee 484, 500 114,e00 40% Work in process, beginning started into production Completed and transferred out work in process, ending 70% 75% 25% Materials conversion Work in process, beginning Cost added during June 24 44, 300 $ 16,300 $ 474,400 $ 347,930 Requlred: 1. Calculate the Blending Department's equivalent units of production for materlals and converslon in June. 2. Calculate the Blending Department's cost per equivalent unit for materlals and converslon in June. 3. Calculate the Blending Department's cost of…
Healthway uses a process-costing system to compute the unit costs of the minerals that it produces. It has three departments: Mixing, Tableting, and Bottling. In Mixing, at the beginning of the process all materials are added and the ingredients for the minerals are measured, sifted, and blended together. The mix is transferred out in gallon containers. The Tableting Department takes the powdered mix and places it in capsules. One gallon of powdered mix converts to 1,600 capsules. After the capsules are filled and polished, they are transferred to Bottling where they are placed in bottles, which are then affixed with a safety seal and a lid and labeled. Each bottle receives 50 capsules. During July, the following results are available for the first two departments (direct materials are added at the beginning in both departments): Overhead in both departments is applied as a percentage of direct labor costs. In the Mixing Department, overhead is 200 percent of direct labor. In the Tableting Department, the overhead rate is 150 percent of direct labor. Required: 1. Prepare a production report for the Mixing Department using the weighted average method. Follow the five steps outlined in the chapter. Round unit cost to three decimal places. 2. Prepare a production report for the Tableting Department. Materials are added at the beginning of the process. Follow the five steps outlined in the chapter. Round unit cost to four decimal places.
Entries for materials cost flows in a process cost system The Hershey Company manufactures chocolate confectionery products. The three largest raw materials are cocoa, sugar, and dehydrated milk. These raw materials first go into the Blending Department. The blended product is then sent to the Molding Department, where the bars of candy are formed. The candy is then sent to the Packing Department, where the bars are wrapped and boxed. The boxed candy is then sent to the distribution center, where it is eventually sold to food brokers and retailers. Show the accounts debited and credited for each of the following business events: A. Materials used by the Blending Department B. Transfer of blended product to the Molding Department C. Transfer of chocolate to the Packing Department D. Transfer of boxed chocolate to the distribution center E. Sale of boxed chocolate