Question

The increases to Work in Process—Roasting Department for Highlands Coffee Company for May as well as information concerning production are as follows:

Work in process, May 1, 1,500 pounds, 10% completed	$20,670
Coffee beans added during May, 92,600 pounds	712,850
Conversion costs during May	299,600
Work in process, May 31, 900 pounds, 80% completed	_
Goods finished during May, 93,200 pounds	_

Prepare a cost of production report, using the average cost method. If required, round cost per equivalent unit answers to the nearest cent.

Highlands Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended May 31
Unit Information
Units to account for during production:
Inventory in process, May 1
Received from materials storeroom
Total units accounted for by the Roasting Department
Units to be assigned costs:
	Whole Units	Equivalent Units of Production
Transferred to finished goods in May
Inventory in process, May 31
Total units to be assigned costs
Cost Information
Costs per equivalent unit:
		Costs
Total costs for May in Roasting Department		$
Total equivalent units
Cost per equivalent unit		$
Costs assigned to production:
Inventory in process, May 1		$
Costs incurred in May
Total costs accounted for by the Roasting Department		$
Costs allocated to completed and partially completed units:
Transferred to finished goods in May		$
Inventory in process, May 31
Total costs assigned by the Roasting Department		$

Answer 1