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Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From...

  1. Sunrise Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at December 31:

    ACCOUNT Work in Process-Roasting Department ACCOUNT NO.
    Date Item Debit Credit Balance
    Debit Credit
    Dec. 1 Bal., 19,700 units, 25% completed 49,644
    31 Direct materials, 340,800 units 487,344 536,988
    31 Direct labor 276,552 813,540
    31 Factory overhead 397,965 1,211,505
    31 Goods transferred, 343,800 units ? ?
    31 Bal., ? units, 75% completed ?

    Required:

    Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process—Roasting Department. Assume that direct materials are placed in process during production. If required, round your cost per equivalent unit answer to two decimal places.

    Sunrise Coffee Company
    Cost of Production Report-Roasting Department
    For the Month Ended December 31
    Unit Information
    Units charged to production:
    Inventory in process, December 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 Packing Department in December
    Inventory in process, December 31
    Total units to be assigned costs
    Cost Information
    Cost per equivalent unit:
    Costs
    Total costs for December in Roasting Department $
    Total equivalent units
    Cost per equivalent unit $
    Costs assigned to production:
    Inventory in process, December 1 $
    Costs incurred in December
    Total costs accounted for by the Roasting Department $
    Costs allocated to completed and partially completed units:
    Transferred to Packing Department in December $
    Inventory in process, December 31
    Total costs assigned by the Roasting Department $

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Solutions

Expert Solution

Sunrise Coffee Company
Cost of Production Report - Roasting Department
For the month ended December, 31
Unit Information
Units charged to production
Inventory in Process, December 1                   19,700.00
Received from material storeroom                487,344.00
Total Units accounted for by the Roasting Department                507,044.00
Units to be assigned to costs:
Whole Units Equivalent Units of Production
Transferred to packing department in December              343,800.00                343,800.00
Inventory in Process, December 31 (Note-1)                 16,700.00                   12,525.00
Total Units to be assigned to costs              360,500.00                356,325.00
Cost Information:
Cost per equivalent unit:
Costs
Total costs for December in roasting department (Note-2 ) $        1,211,505.00
Total Equivalent Units                356,325.00
Cost per equivalent unit $                          3.40
Cost assigned to production:
Inventory in Process, December 1 $              49,644.00
Cost incurred in December $        1,161,861.00
Total costs accounted for in December $        1,211,505.00
Transferred to packing department in December $        1,168,920.00
Inventory in Process, December 31   $              42,585.00
Total costs assigned by the Roasting Department $        1,211,505.00
Note1 : It is asssumed that one unit of input is required per unit of output
Note2: Total cost during the month = 49644+487344+276552+397965 = 1211505 (This includes cost of opening inventory in process 49644).
So, the "?" are answered as follows:
Balance
Item Debit Credit Debit Credit
31. Goods Transferred, 343800 units $        1,168,920.00 $ 42,585.00
32. Balance, 16700 units, 75% complete $ 42,585.00

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