Question

Maria Am Corporation uses a 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 $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 JuneBanking DeparmentBost ReconciliationCosts to be accounted forBlank blank blank amountBlank blank blank amountTotal costs to be accounted forCosts accounted for as followsBlank blank blank amountBlank blank blank amountTotal cost accounted for

Answer 1

Answer:

Explanation:

The following information can be derived from the question above:

The cost of the beginning work in the process inventory = $3,570

The cost of the ending work in the process inventory = $2,860

The cost that is added to the production = $43,120.

In the attached document, it should be noted that the cost of goods that were transferred out was calculated as:

The total cost to be accounted for minus the cost of the ending work in the process inventory. This is:

= 46690 - 2860

= 43830

The cost reconciliation report for the Baking Department for June has been solved and attached.