Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounting HW NEED HELP ASAP thx!!! 20-3 Exercises & Problems eBook Calculator The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for

Accounting HW NEED HELP ASAP

image text in transcribedimage text in transcribedimage text in transcribedthx!!!

20-3 Exercises & Problems eBook Calculator The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: $2,912* Work in process, August 1, 700 pounds, 40% completed *Direct materials (700 X $3.6) $2,520 $392 Conversion (700 X 40% X $1.4) $2,912 78,100 32,640 Coffee beans added during August, 22,000 pounds Conversion costs during August Work in process, August 31, 1,100 pounds, 40% 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 Direct Materials Conversion Whole e Check My Work 2 more Check My Work uses remaining. Previous Next > 20-3 Exercises & Problems eBook Calculator Total units accounted for by the Roasting Department Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion (1) (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 10 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 comnlsted in Aunut Check My Work 2 more Check My Work uses remaining. 20-3 Exercises & Problems COSES per equivalent nc eBook Calculator 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 Check My Work 2 more Check My Work uses remaining. Previous Next >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Study Guide With Working Papers, Chapters 1-9 For Heintz/Parrys College Accounting

Authors: James A. Heintz, Robert W. Parry

21st Edition

1285059379, 9781285059372

More Books

Students also viewed these Accounting questions

Question

What forces are driving the added-value movement in HRM?

Answered: 1 week ago