- The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows:
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Work in process, August 1, 800 pounds, 30% completed $2,688* *Direct materials (800 X $3) $2,400 Conversion (800 X 30% X $1.2) 288 $2,688 Coffee beans added during August, 25,000 pounds 73,750 Conversion costs during August 32,045 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:
- Direct materials and conversion The number of production units that could have been completed within a given accounting period, given the resources consumed.equivalent units of production for August.
- Direct materials and conversion The rate used to allocate costs between completed and partially completed production.costs per equivalent unit for August.
- Cost of goods finished during August.
- 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.
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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 Cost 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 $ - Feedback
- 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.
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