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can someone solve me this please. Cost of production report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together
can someone solve me this please.
Cost of production report The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: $3,976* Work in process, August 1, 800 pounds, 20% completed *Direct materials (800 x $4.70) $3,760 Conversion (800 x 20% $1.35) 216 $3,976 Coffee beans added during August, 16,343 pounds 75,178 Conversion costs during August 24,253 ? Work in process, August 31, 443 pounds, 42% completed Goods finished during August, 16,700 pounds ? All direct materials are placed in process at the beginning of production. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. THIS Open spreadsheet 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 Open spreadsheet 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 "0". Round the answers in units to the nearest whole number, the answer for the cost per equivalent unit to the nearest cent, and the other monetary answers to the nearest whole dollar. Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Equivalent Units Whole Units Direct Materials (1) Conversion (1) UNITS Units charged to production: Inventory in process, August 1 Received from materials storeroom = Total units accounted for by the Roasting Department For the Month Ended August 31 Equivalent Units Direct Materials Conversion (1) (1) Whole UNITS Units 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: 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 Costs Direct Materials COSTS Conversion Total Costs per equivalent unit: Total costs for August in Roasting Department Total equivalent units $ Cost per equivalent unit (2) $ $ Costs Direct Materials COSTS Conversion Total Costs per equivalent unit: Total costs for August in Roasting Department Total equivalent units $ $ $ $ Cost per equivalent unit (2) Costs assigned to production: 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 $ 10 $ $ b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). Round your answers to the nearest cent. 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. Balance Date Item Debit Credit Debit Credit July 1 Bal., 4,400 units, 2/5 completed 12,848 31 Direct materials, 198,000 units 547,448 534,600 111,900 31 Direct labor 659,348 31 Factory overhead 27,932 687,280 ? 31 Goods transferred, 198,000 units 31 Bal., ? units, 4/5 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 4,400 198nnn 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 4,400 198,000 Received from materials storeroom Total units accounted for by the Roasting Department 202,400 Units to be assigned costs: Whole Units Equivalent Units Direct Conversion Materials 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 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 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 Feedback Check My Work 1. Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs as the beginning inventory, the units started and completed, and the ending inventory. 2. Assuming that the July 1 work in process inventory includes $11,440 of direct materials, determine the increase or decrease in the cost per equivalent unit for dire 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 Increase $ Change in conversion cost per equivalent unit Decrease Office 365 eBook Show Me How 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) 111 $ 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). Round your answers to the nearest cent. Increase or Decrease Amount Decrease $ Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Increase $ Feedback Check My Work a. How much more (percentage amount) needed to be done to the beginning work in process units to make the units to complete to transfer to the next department? Did these units require more material cost or more conversion cost? How much, in terms of cost, had been done to these units in the prior period? In order for units to be transferred to the next department, the units have to be complete with respect to both materials and conversion. When are materials added in the process? How complete are the units in ending inventory with respect to materials? How compete are the units in ending inventory with respect to conversion? Materials and conversion cost needs to be allocated among the equivalent units. Are the number of equivalent units the same for materials and conversion? b. Compare the costs per equivalent unit for July and August. The July costs per equivalent unit for materials and conversion are in the August 1 work in process inventoryStep by Step Solution
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