Identify basic cost behavior patterns and explain how changes in activity level affect total cost and unit cost?

Cost of Production Report: Average Cost Method

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:

Required:

Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process—Roasting Department. If required, round your cost per equivalent unit answer to two decimal places.

Cost of Production Report: Average Cost Method

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:

Required:

Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process—Roasting Department. If required, round your cost per equivalent unit answer to two decimal places.

Periodic and Perpetual Systems —Calculating Ending Inventory and Cost of Sales using Average Cost, Moving Average, FIFO, LIFO, and Dollar-Value LIFO

The inventory records of Mod Oil Company for January 2020 showed the following data for an item of its merchandise for sale (assume that the six transactions occurred in the order shown).

Its ending inventory of 720 units can be specifically identified as follows: 180 units from the January 3 purchase, 90 units from the January 10 purchase, and 450 units from the January 25 purchase.

Compute ending inventory and cost of goods sold for the month ended January 31 using the methods indicated below.

• Round your final answer to the nearest whole dollar.
• Do not round per unit costs in your calculations.

*Assume that the beginning inventory is the base layer at a cost of $6.00 per unit. The price index for

Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, $190,000 of materials costs and $135,500 in conversion costs were charged to the department. The beginning work in process inventory was $93,000 on July 1, comprised of $80,000 of materials costs and $13,000 of conversion costs.

Other data for the month of July are as follows:

Beginning work in process inventory, 7/1 25,000 units (40% complete)

Units completed and transferred out 90,000 units

Ending work in process inventory 7/31 30,000 units (30% complete)

Instructions

Answer the following questions and show computations to support your answers.

1. How many physical units have to be accounted for in July?

2. What are the equivalent units of production for materials and for conversion costs for the month of July?

3. What is the total cost assigned to the 90,000 units that were transferred out of the process in July?

4. What is the remaining total cost of inventory within the Assembly department as of July 31?

1. 2 Assume that a cardiologist group practice has the following cost structure:

Fixed Cost: $500,000         Variable Cost Per Procedure: $25

Furthermore, assume that the group expects to perform 7,500 procedures in the coming year.

A. What is the group’s underlying cost structure?

    B. What are the groups expected total cost?

C. What are the groups' estimated total costs at 5,000 procedures? At 10,000 procedures?

D. What is the average cost per procedure at 5,000, 7,500 and 10,000 procedures?

Alternative 1 has a capital cost of $2,069,000 and annual O&M cost of $348,000

Alternative 2 has a capital cost of $7,182,000 and annual O&M cost of $394,000

Number of years = 30, interest rate = 3%

Compare the two alternatives using the present worth method AND annual cost method. Which is least costly? Are the conclusions same for each method?

Cost of Production Report: Average Cost Method

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:

Required:

Prepare a cost of production report, using the average cost method, and identify the missing amounts for Work in Process—Roasting Department. If required, round your cost per equivalent unit answer to two decimal places.

Thank you!!

2.) Fill in the following table: Show work if possible

b.) Now suppose this firm is in a perfectly competitive industry. The market price of the output is $25. How many units of output will this firm choose to produce in the short run? What is the profit at that level of output?

What is opportunity cost? As scarce resource, financial capital has opportunity cost.

What determines the opportunity cost of capital?

PLEASE ANSWER THIS QUESTION IN A ESSAY FORMAT!