Questions
Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

Cost of Production Report

Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:

ACCOUNT Work in Process—Roasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 5,800 units, 3/5 completed 14,616
31 Direct materials, 261,000 units 574,200 588,816
31 Direct labor 124,200 713,016
31 Factory overhead 31,008 744,024
31 Goods transferred, 261,000 units ?
31 Bal., ? units, 1/5 completed ?

Required:

1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places.

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

Thank you!!

2. Assuming that the July 1 work in process inventory includes $12,180 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and 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 $

In: Accounting

The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with...

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, 900 pounds, 40% completed $4,086*
*Direct materials (900 X $3.9) $3,510
Conversion (900 X 40% X $1.6) $576
$4,086
Coffee beans added during August, 28,000 pounds 107,800
Conversion costs during August 47,090
Work in process, August 31, 1,400 pounds, 40% completed ?
Goods finished during August, 27,500 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

In: Accounting

he debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with...

he 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, 50% completed $2,870*
*Direct materials (700 X $3.4) $2,380
Conversion (700 X 50% X $1.4) $490
$2,870
Coffee beans added during August, 22,000 pounds 73,700
Conversion costs during August 32,865
Work in process, August 31, 1,100 pounds, 60% completed ?
Goods finished during August, 21,600 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

In: Accounting

Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...

Cost of Production Report

Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31:

ACCOUNT Work in Process—Roasting Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
July 1 Bal., 4,900 units, 2/5 completed 9,506
31 Direct materials, 220,500 units 396,900 406,406
31 Direct labor 88,700 495,106
31 Factory overhead 22,140 517,246
31 Goods transferred, 221,000 units ?
31 Bal., ? units, 3/5 completed ?

Required:

1. Prepare a cost of production report, and identify the missing amounts for Work in Process—Roasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to two decimal places.

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

2. Assuming that the July 1 work in process inventory includes $8,330 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and 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 $

In: Accounting

During the year, Trombley Incorporated has the following inventory transactions.   Date Transaction Number of Units Unit...

During the year, Trombley Incorporated has the following inventory transactions.


  Date Transaction Number
of Units
Unit
Cost
   Total Cost
  Jan. 1      Beginning inventory 16      $ 18       $ 288    
  Mar. 4      Purchase 21      17       357    
  Jun. 9      Purchase 26      16       416    
  Nov. 11      Purchase 26      14       364    
89      $ 1,425    

   

For the entire year, the company sells 69 units of inventory for $26 each.

1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
# of units Average Cost per unit Cost of Goods Available for Sale # of units Average Cost per unit Cost of Goods Sold # of units Average Cost per unit Ending Inventory
Beginning Inventory $0 $0 $0
Purchases:
Mar 04 0 $0 0
Jun 09 0 $0 0
Nov 11 0 $0 0
Total 0 $0
Sales revenue
Gross profit

2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory
# of units Average Cost per unit Cost of Goods Available for Sale # of units Average Cost per unit Cost of Goods Sold # of units Average Cost per unit Ending Inventory
Beginning Inventory
Purchases:
Mar 04
Jun 09
Nov 11

Total

Sales revenue
Gross profit

3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost per unit" to 2 decimal places.)

Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost
# of units Average Cost per unit Cost of Goods Available for Sale # of units Sold Average Cost per Unit Cost of Goods Sold # of units in Ending Inventory Average Cost per unit Ending Inventory
Beginning Inventory 16 $288
Purchases:
Mar.4 21 357
Jun.9 26 416
Nov.11 26 364
Total
Sales revenue
Gross profit

In: Accounting

A real estate developer is considering investing in a shopping mall on the outskirts of Atlanta,...

A real estate developer is considering investing in a shopping mall on the outskirts of Atlanta, Georgia. Three parcels of land are being evaluated. Of particular importance is the income in the area surrounding the proposed mall. A random sample of four families is selected near each proposed mall. Following are the sample results. At the .05 significance level, can the developer conclude there is a difference in the mean income? Use the usual six-step hypothesis testing procedure.

In: Other

An audio system 1 produces a sound level of 90.0 dB and system 2 produces a...

An audio system 1 produces a sound level of 90.0 dB and system 2 produces a sound level of 93.0 dB. (a) Determine the ratio of the intensities (in W/m 2 ) . (b) Suppose a recording device was placed 2 m away from s ystem 2 . H ow far away from system 1 must that recording device be placed in order for the intensity to be the same as it was near system 2?

In: Physics

Assuming you're considering borrowing $100 million to finance your business for 2 years. One option is...

Assuming you're considering borrowing $100 million to finance your business for 2 years. One option is to use fixed-rate financing with interest payments on a semi-annual basis. The other alternative is a floating rate financing based on Libor with interest payments on a quarterly basis.

How and when could Libor or other index change to impact the decision? How will the current and near-term economic environment impact your recommendation?

In: Finance

In The Expanse series of science fiction novels people live in tunnels in the dwarf planet Ceres. The...

In The Expanse series of science fiction novels people live in tunnels in the dwarf planet Ceres. The planet has been given a spin, so that, according to the novels, it has a “gravity” of 0.3 g. Assume that this is the value in tunnels close to the surface at the equator.
i) what is the period of rotation?
ii) what is the value of the “gravity” in a tunnel that is near the surface but half way between the equator and one of the poles?

no ceres. is the name of the fictional planet. .

In: Physics

When using the Sequencing and Structure Alignment tool, the degree of the structural similarity is shown...

When using the Sequencing and Structure Alignment tool, the degree of the structural similarity is shown by the superimposition of the backbones. Accordingly, which of the following statement best describes the comparison of deoxyhemoglobin and oxyhemoglobin?

A.

Only slight differences in the backbone traces occur throughout the aligned proteins.

B.

The only differences in the backbone traces occur near the oxygen-binding sites.

C.

The backbone traces of the proteins are drastically different.

D.

The backbone traces of the proteins are identical.

In: Chemistry