Maria Am Corporation uses a process costing system. The Baking Department is one
ID: 2411995 • Letter: M
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 June
Banking Deparment
Bost Reconciliation
Costs to be accounted for
Blank blank blank amount
Blank blank blank amount
Total costs to be accounted for
Costs accounted for as follows
Blank blank blank amount
Blank blank blank amount
Total cost accounted for
Explanation / Answer
Baking Department
Cost Reconciliation
Costs to be accounted for: Cost of beginning work in process inventory $3,570 Costs added to production during the period $43,120 Total cost to be accounted for $46,690 Costs 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