Question
Please help with the following question
Kippinger Baking Corporation uses a process costing system in its large-scale baking operations. The Mixing Department is one of the company's processing departments. In the Mixing Department in August, the cost of beginning work in process inventory was dollar 4.230. the cost of ending work in process inventory was dollar 3,870. and the cost added to production was dollar 46,320. Required: Prepare a cost reconciliation report for the Mixing Department for August.
Explanation / Answer
Total cost to be accounted for Opening WIP $ 4,230.00 Add :material added $ 46,320.00 Less :Closing WIP $ 3,870.00 Total cost to be accounted $ 46,680.00