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All Please! Mochaccino Express Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting
All Please!
Mochaccino Express 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. Balance Date Item Debit Credit July 1 Bal., 6,100 units, 20% completed 9,760 31 Direct materials, 244,000 units 390,400 400,160 31 Direct labor 78,700 478,860 31 Factory overhead 19,628 498,488 31 Goods transferred, 245,000 units 31 Bal., 2 units, 40% completed 7 Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in Process-Roasting Department. If an amount box does not require an entry, leave it blank. When computing cost per equivalent units, round to two decimal places. Mochaccino Express Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31 Unit Information Units charged to production: Inventory in process, July 11 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Debit Credit Inventory in process, July 11 Started and completed in July Transferred to Packing Department in July Inventory in process, July 31 Total units to be assigned costs Costs per equivalent unit: Total costs for July in Roasting Department Total equivalent units Cost per equivalent unit Costs charged to production: Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Roasting Department Cost allocated to completed and partially completed units: Inventory in process, July 1 balance Cost Information Equivalent Units Direct Materials Direct Materials. 8 Whole Units Direct Materials Conversion onversion Conversion Total Step by Step Solution
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