Question

In: Accounting

Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...

Cost of Production Report

The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:

Work in process, August 1, 800 pounds, 40% completed $2,704*
*Direct materials (800 X $2.9) $2,320
Conversion (800 X 40% X $1.2) $384
$2,704
Coffee beans added during August, 25,000 pounds 71,250
Conversion costs during August 31,941
Work in process, August 31, 1,300 pounds, 30% completed ?
Goods finished during August, 24,500 pounds ?

All direct materials are placed in process at the beginning of production.

a. Prepare a cost of production report, presenting the following computations:

  1. Direct materials and conversion equivalent units of production for August
  2. Direct materials and conversion costs per equivalent unit for August
  3. Cost of goods finished during August
  4. Cost of work in process at August 31

If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.

Morning Brew Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended August 31
Unit Information
Units charged to production:
Inventory in process, August 1
Received from materials storeroom
Total units accounted for by the Roasting Department
Units to be assigned costs:
Equivalent Units
Whole Units Direct Materials (1) Conversion (1)
Inventory in process, August 1
Started and completed in August
Transferred to finished goods in August
Inventory in process, August 31
Total units to be assigned costs
Cost Information
Costs per equivalent unit:
Direct Materials Conversion
Total costs for August in Roasting Department $ $
Total equivalent units
Cost per equivalent unit (2) $ $
Costs assigned to production:
Direct Materials Conversion Total
Inventory in process, August 1 $
Costs incurred in August
Total costs accounted for by the Roasting Department $
Costs allocated to completed and partially completed units:
Inventory in process, August 1 balance $
To complete inventory in process, August 1 $ $
Cost of completed August 1 work in process $
Started and completed in August
Transferred to finished goods in August (3) $
Inventory in process, August 31 (4)
Total costs assigned by the Roasting Department $

b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to the nearest cent.

Increase or Decrease Amount
Change in direct materials cost per equivalent unit $
Change in conversion cost per equivalent unit

Solutions

Expert Solution


Related Solutions

Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,100 pounds, 30% completed $4,422* *Direct materials (1,100 X $3.60) $3,960 Conversion (1,100 X 30% X $1.40) 462 $4,422 Coffee beans added during August, 34,000 pounds 120,700 Conversion costs during August 50,265 Work in process, August 31, 1,800 pounds, 30% completed ? Goods finished during August, 33,300 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 800 pounds, 30% completed $4,296* *Direct materials (800 X $4.8) $3,840 Conversion (800 X 30% X $1.9) $456 $4,296 Coffee beans added during August, 25,000 pounds 118,750 Conversion costs during August 50,080 Work in process, August 31, 1,300 pounds, 60% completed ? Goods finished during August, 24,500 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,000 pounds, 60% completed $4,960* *Direct materials (1,000 X $4) $4,000 Conversion (1,000 X 60% X $1.6) $960 $4,960 Coffee beans added during August, 31,000 pounds 122,450 Conversion costs during August 52,564 Work in process, August 31, 1,600 pounds, 70% completed ? Goods finished during August, 30,400 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,000 pounds, 60% completed $4,960* *Direct materials (1,000 X $4) $4,000 Conversion (1,000 X 60% X $1.6) $960 $4,960 Coffee beans added during August, 31,000 pounds 122,450 Conversion costs during August 52,564 Work in process, August 31, 1,600 pounds, 70% completed ? Goods finished during August, 30,400 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 700 pounds, 20% completed $2,954* *Direct materials (700 X $3.9) $2,730 Conversion (700 X 20% X $1.6) $224 $2,954 Coffee beans added during August, 22,000 pounds 84,700 Conversion costs during August 37,604 Work in process, August 31, 1,100 pounds, 60% completed ? Goods finished during August, 21,600 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,000 pounds, 20% completed $3,680* *Direct materials (1,000 X $3.4) $3,400 Conversion (1,000 X 20% X $1.4) $280 $3,680 Coffee beans added during August, 31,000 pounds 103,850 Conversion costs during August 46,020 Work in process, August 31, 1,600 pounds, 30% completed ? Goods finished during August, 30,400 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 600 pounds, 50% completed $3,450* *Direct materials (600 X $4.8) $2,880 Conversion (600 X 50% X $1.9) $570 $3,450 Coffee beans added during August, 19,000 pounds 90,250 Conversion costs during August 37,800 Work in process, August 31, 1,000 pounds, 60% completed ? Goods finished during August, 18,600 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,000 pounds, 10% completed $5,510* *Direct materials (1,000 X $5.3) $5,300 Conversion (1,000 X 10% X $2.1) $210 $5,510 Coffee beans added during August, 31,000 pounds 162,750 Conversion costs during August 67,716 Work in process, August 31, 1,600 pounds, 30% completed ? Goods finished during August, 30,400 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,100 pounds, 60% completed $4,884* *Direct materials (1,100 X $3.6) $3,960 Conversion (1,100 X 60% X $1.4) 924 $4,884 Coffee beans added during August, 34,000 pounds 120,700 Conversion costs during August 50,310 Work in process, August 31, 1,800 pounds, 50% completed ? Goods finished during August, 33,300 pounds ?...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company...
Cost of Production Report The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 1,200 pounds, 10% completed $6,492* *Direct materials (1,200 X $5.2) $6,240 Conversion (1,200 X 10% X $2.1) $252 $6,492 Coffee beans added during August, 38,000 pounds 195,700 Conversion costs during August 84,656 Work in process, August 31, 2,000 pounds, 70% completed ? Goods finished during August, 37,200 pounds ?...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT