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:

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.

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.

20-3 20-16 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:

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.

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.

20-03 20-16

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:

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.

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.

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

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.

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.

Weighted Average Method, Separate Materials Cost Janbo Company produces a variety of stationery products. One product, sealing wax sticks, passes through two processes: blending and molding. The weighted average method is used to account for the costs of production. After blending, the resulting product is sent to the molding department, where it is poured into molds and cooled. The following information relates to the blending process for August: a. Work in Process on August 1, had 30,000 pounds, 20% complete. Costs associated with partially completed units were: Materials $220,000 Direct labor 30,000 Overhead applied 20,000 b. Work in Process on August 31, had 50,000 pounds, 40% complete. c. Units completed and transferred out totaled 480,000 pounds. Costs added during the month were (all inputs are added uniformly): Materials $5,800,000 Direct labor 4,250,000 Overhead applied 1,292,500 Required: 1a. Prepare a physical flow schedule. Janbo Company Physical Flow Schedule Units to account for: Units in beginning work in process Units started Total units to account for Units accounted for: Units completed From ending work in process Total units accounted for 1b. Prepare an equivalent unit schedule. Janbo Company Schedule of equivalent units Weighted Average Method Units completed Units in ending work in process Total equivalent units 2. Calculate the unit cost. Round unit cost value to three decimal places. $ 3. Compute the cost of EWIP and the cost of goods transferred out. Ending work in process $ Goods transferred out $ 4. Prepare a cost reconciliation. Janbo Company Cost Reconciliation Costs to account for: Beginning WIP $ August costs Total to account for $ Costs accounted for: Transferred out $ Ending WIP Total costs accounted for $ 5. Suppose that the materials added uniformly in blending are paraffin and pigment and that the manager of the company wants to know how much each of these materials costs per equivalent unit produced. The costs of the materials in BWIP are as follows: Paraffin $120,000 Pigment 100,000 The costs of the materials added during the month are also given: Paraffin $3,250,000 Pigment 2,550,000 Prepare an equivalent unit schedule with cost categories for each material. Paraffin Pigment Units completed Units in ending WIP Total equivalent units Unit cost computation: Costs in BWIP $ $ Costs added Total costs $ $ Calculate the cost per unit for each type of material. Round your answers to the nearest cent. Unit paraffin cost $per unit Unit pigment cost $per unit

Consuelo​ Chua, Inc., is a disk drive manufacturer in need of an aggregate plan for July through December. The company has gathered the following data. There are 8 hours of production per day.

What will each of the two following strategies​ cost?

​a) Vary the workforce so that production approximates demand. Chua had eight workers on board in June. (Enter all responses as whole numbers​).

Fill in the table below. ​(Enter all responses as whole numbers. In the​ hire/layoff column, use positive numbers for hires-plus signs​ omitted; negative numbers for​ layoffs.)

​* No costs are incurred for unmet demand.

​**When computing​ "Personnel on​ Staff," if 0.5 or more of an employee is needed round up and hire one more​ employee; if less than​ 0.5, round down.

The total inventory cost​ = __. (Enter your response as a whole​ number.)

The total hiring cost​ =__. (Enter your response as a whole​ number.)

The total layoff cost =__. ​(Enter your response as a whole​ number.)

The total​ cost, excluding normal time labor​ costs, is​ = __. (Enter your response as a whole​ number.)

​b) Vary overtime only and use a constant workforce of eight.

Fill in the table below. ​(Enter all responses as whole​ numbers.)

The total inventory carrying cost​ = __. ​(Enter your response as a whole​ number.)

The total overtime premium cost​ =__. (Enter your response as a whole​ number.)

The total​ cost, excluding normal time labor​ costs, is​ =__. (Enter your response as a whole​ number.)

5. Suppose that you own an apple orchard and the following chart represents the quantity of apples that can be picked from your orchard per hour with a given quantity of capital equipment, such as baskets and ladders. [15 points]

a. Complete the table above by calculating the average total cost, marginal cost, average variable cost, and the average fixed cost.

In a construction project today, 600 square meters of thermic isolation is required. Main inputs consist of styro-foam and labor. In 2010, the cost of styro-foam was $8 per kg, knowing that the isolation used weighs 12 kilograms per 50 square meter. The cost index in 2010 was 190 while today in 2017 it is equal to 180. The estimated labor cost for a first installation is $27000. Past experience has shown that the cost related to the labor required for producing each new pump is lowered by 20%. Use the cost of the sixth installation as your standard cost to estimate the total direct labor cost, if the project needs 10 installations per each square meter. Calculate the total cost of the installed thermic isolation for this project.

Economic Evaluation problem:

1. The following information has been gathered on the costs and effectiveness of the two treatments, A and B. In this problem, costs and consequences are not discounted.

1. What is the total cost for the survivors receiving treatment A?
2. What is the total cost for survivors receiving treatment B?
3. What is the expected cost for those patients receiving treatment A?
4. The expected cost of Treatment B?
5. Calculate the incremental cost and incremental benefit of the treatment alternatives.
6. What is the ICER?
7. How does cost-benefit analysis differ from cost-effectiveness analysis?