Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CHAPTER 2 0 PROBLEM PR . 2 0 . 0 2 . ALGO Progress: 1 / 1 items eBook Question Content Area Cost of Production
CHAPTER PROBLEM PRALGO Progress: items eBook Question Content Area Cost of Production Report 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 : ACCOUNT Work in ProcessRoasting Department ACCOUNT NO Date Item Debit Credit Balance Debit Credit July Bal., units, completed Direct materials, units Direct labor Factory overhead Goods transferred, units Bal., units, completed Required: Question Content Area Prepare a cost of production report, and identify the missing amounts for Work in ProcessRoasting 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 ReportRoasting Department For the Month Ended July Unit Information Units charged to production:Number of Units Inventory in process, July fill in the blank eeefb Received from materials storeroom fill in the blank eeefb Total units accounted for by the Roasting Department fill in the blank eeefb Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, July fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Started and completed in July fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Transferred to Packing Department in July fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Inventory in process, July fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Total units to be assigned costs fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for July in Roasting Department $fill in the blank eeefb $fill in the blank eeefb Total equivalent units fill in the blank eeefb fill in the blank eeefb Cost per equivalent unit $fill in the blank eeefb $fill in the blank eeefb Costs charged to production: Direct Materials Conversion Total Inventory in process, July $fill in the blank eeefb Costs incurred in July fill in the blank eeefb Total costs accounted for by the Roasting Department $fill in the blank eeefb Cost allocated to completed and partially completed units: Inventory in process, July balance $fill in the blank eeefb To complete inventory in process, July $fill in the blank eeefb $fill in the blank eeefb fill in the blank eeefb Cost of completed July work in process $fill in the blank eeefb Started and completed in July fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Transferred to Packing Department in July $fill in the blank eeefb Inventory in process, July fill in the blank eeefb fill in the blank eeefb fill in the blank eeefb Total costs assigned by the Roasting Department $fill in the blank eeefb Feedback Area Feedback Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory. Question Content Area Assuming that the July work in process inventory includes $ of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent. Increase or Decrease Amount Change in direct materials cost per equivalent unit Increase $fill in the blank bffdcfafa Change in conversion cost per equivalent unit Decrease $fill in the blank bffdcfafa Feedback Area Feedback Compare the costs per equivalent unit for June and July. The costs per equivalent unit for materials and conversion for June are in the July work in process inventory. The materials amount is given. Feedback Area Feedback Partially correct Check My Work
CHAPTER PROBLEM
PRALGO
Progress: items
eBook
Question Content Area
Cost of Production Report
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 :
ACCOUNT Work in ProcessRoasting Department ACCOUNT NO
Date Item Debit Credit Balance
Debit Credit
July Bal., units, completed
Direct materials, units
Direct labor
Factory overhead
Goods transferred, units
Bal., units, completed
Required:
Question Content Area
Prepare a cost of production report, and identify the missing amounts for Work in ProcessRoasting 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 ReportRoasting Department
For the Month Ended July
Unit Information
Units charged to production:Number of Units
Inventory in process, July fill in the blank eeefb
Received from materials storeroom fill in the blank eeefb
Total units accounted for by the Roasting Department fill in the blank eeefb
Units to be assigned costs: Equivalent Units
Whole
Units Direct
Materials
Conversion
Inventory in process, July fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Started and completed in July fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Transferred to Packing Department in July fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Inventory in process, July fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Total units to be assigned costs fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Cost Information
Costs per equivalent unit: Direct
Materials
Conversion
Total costs for July in Roasting Department $fill in the blank eeefb
$fill in the blank eeefb
Total equivalent units fill in the blank eeefb
fill in the blank eeefb
Cost per equivalent unit $fill in the blank eeefb
$fill in the blank eeefb
Costs charged to production:
Direct
Materials
Conversion
Total
Inventory in process, July $fill in the blank eeefb
Costs incurred in July fill in the blank eeefb
Total costs accounted for by the Roasting Department $fill in the blank eeefb
Cost allocated to completed and partially completed units:
Inventory in process, July balance $fill in the blank eeefb
To complete inventory in process, July $fill in the blank eeefb
$fill in the blank eeefb
fill in the blank eeefb
Cost of completed July work in process $fill in the blank eeefb
Started and completed in July fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Transferred to Packing Department in July $fill in the blank eeefb
Inventory in process, July fill in the blank eeefb
fill in the blank eeefb
fill in the blank eeefb
Total costs assigned by the Roasting Department $fill in the blank eeefb
Feedback Area
Feedback
Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory.
Question Content Area
Assuming that the July work in process inventory includes $ of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to the nearest cent.
Increase or Decrease Amount
Change in direct materials cost per equivalent unit
Increase
$fill in the blank bffdcfafa
Change in conversion cost per equivalent unit
Decrease
$fill in the blank bffdcfafa
Feedback Area
Feedback
Compare the costs per equivalent unit for June and July. The costs per equivalent unit for materials and conversion for June are in the July work in process inventory. The materials amount is given.
Feedback Area
Feedback
Partially correct
Check My Work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started