Asked by Marin Webster hannon on May 11, 2024
Verified
In the department's cost reconciliation report for June, the total cost accounted for would be:
A) $876,000
B) $46,000
C) $842,000
D) $438,000
Cost Reconciliation Report
A report that reconciles estimated or budgeted costs with actual costs, commonly used in project management and job costing.
Total Cost
The complete cost of producing or acquiring goods or services, including fixed and variable costs.
Department
A distinct part of an organization with a specific function or group of related functions.
- Understand the role of cost reconciliation reports in process costing and how to interpret them.
Verified Answer
= $12,000 + $426,000 = $438,000
Reference: CH05-Ref19
In August, one of the processing departments at Tsuzuki Corporation had beginning work in process inventory of $24,000 and ending work in process inventory of $13,000.During the month, $283,000 of costs were added to production.
Learning Objectives
- Understand the role of cost reconciliation reports in process costing and how to interpret them.
Related questions
In October, One of the Processing Departments at Ingersoll Corporation ...
In December, One of the Processing Departments at Bonine Corporation ...
In June, One of the Processing Departments at Sorto Corporation ...
The Cost Reconciliation Report Has Two Sections: Costs to Be ...
In August, One of the Processing Departments at Tsuzuki Corporation ...