Cost of production report 135 The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 500 pounds, 20% completed $2,485* *Direct materials (500 x $4.70) $2,350 Conversion (500 x 20% x 51.35) $2,485 Coffee beans added during August, 10,214 pounds 46,984 Conversion costs during August 15,648 Work in process, August 31, 314 pounds, 42% completed Goods finished during August, 10,400 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. 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 Direct whole Materials Conversion UNITS Units (1) (1) Units charged to production: Inventory in process, August 1 500 Received from materials storeroom 10,214 Total units accounted for by the Roasting Department 10,714 Units to be assigned costs: Inventory in process, August 1 500 400 Started and completed in August 9,900 9,900 9,900 Transferred to finished goods in August 10,400 9,900 Inventory in process, August 31 Total units to be assigned costs Costs Direct COSTS Consorcion Total Materials Conversion Total ' COSTS 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 ' ' ' 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. Amount Increase or Decrease Change in direct materials cost per equivalent unit Decreases Change in conversion cost per equivalent unit Increase $
