Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cengage Chapter 17 Homew: X C 23 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=assignment-take&inprogress=false w @ Cengage Chapter 17 Homework 1. EX.17.16.ALGO 2. EX17.17.ALGO L 3. PR17.02A.ALGO L 4. PR.17.02B L

image text in transcribedimage text in transcribedimage text in transcribed
Cengage Chapter 17 Homew: X C 23 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=assignment-take&inprogress=false w @ Cengage Chapter 17 Homework 1. EX.17.16.ALGO 2. EX17.17.ALGO L 3. PR17.02A.ALGO L 4. PR.17.02B L Progress: 3/4 items Assignment Score: 39.77% CengageNOWv2 | Online teac X u Dashboard X + =119 Print Item Costs Direct Materials Conversion Total Cost per equivalent unit: Total costs for March in Roasting Department $[: Total equivalent units :] | L Cost per equivalent unit $[: Costs assigned to production: Inventory in process, March 1 Costs incurred in March Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: e Inventory in process, March 1 balance g To complete inventory in process, March 1 Cost of completed March 1 work in process Started and completed in March | Transferred to finished goods in March Inventory in process, March 31 | Total costs assigned by the Roasting Department 4| 2. Assuming that the March 1 work in process inventory includes $10,450 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and March. If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit Increase Change in conversion cost per equivalent unit Decrease Check My Woi All work saved. v v ( Previous Submit Assignment for Grading -:::- Cengage Chapt: X .o CengageNOWv' X u Course Hero X G how to calculate X Inventory in pro. X G Tocompleteinv: X I am not sure wi X Q Equivalent Unit: X + 82 C 25 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=assignment-take&inprogress=false Yo @ : Cengage Chapter 17 Homework 1S ) Lui Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee k=) S ALE - beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at March 31: 2. EXA17.17.ALGO L ACCOUNT Work in ProcessRoasting Department ACCOUNT NO. 3. PR.17.02A. ALGO L Balance Balance Date Item Debit Debit Credit Rl ~ March 1 Bal., 5,500 units, 1/5 completed 11,110 31 Direct materials, 247,500 units 495,000 506,110 31 Direct labor 99,200 605,310 31 Factory overhead 24,750 630,060 31 Goods transferred, 248,000 units 31 Bal., 2 units, 1/5 completed e Required: 1. Prepare a cost of production report, and identify the missing amounts for Work in ProcessRoasting Department. If an amount is zero, enter "0". When computing cost per equivalent units, round to the nearest cent. Lui Coffee Company Cost of Production ReportRoasting Department For the Month Ended March 31 Units Whole Units Equivalent Units Direct Materials Equivalent Units Conversion Units charged to production: Inventory in process, March 1 Received from materials storeroom Total units accounted for by the Roasting Department Progress: 3/4 items i Assignment Score: 73.3% SES

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

Accounting Principles Managerial Concepts

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

7th Canadian Edition

1119310296, 978-1119310297

More Books

Students also viewed these Accounting questions

Question

2. How do I perform this role?

Answered: 1 week ago