Question
Cost of Production Report Arabica Highland Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From
Cost of Production Report
Arabica Highland 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 ProcessRoasting Department | ACCOUNT NO. | ||||||||
Date | Item | Debit | Credit | Balance | |||||
Debit | Credit | ||||||||
July | 1 | Bal., 7,700 units, 3/5 completed | 20,174 | ||||||
31 | Direct materials, 308,000 units | 708,400 | 728,574 | ||||||
31 | Direct labor | 146,700 | 875,274 | ||||||
31 | Factory overhead | 36,732 | 912,006 | ||||||
31 | Goods transferred, 309,000 units | ? | |||||||
31 | Bal., ? units, 1/5 completed | ? |
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 two decimal places.
Arabica Highland 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 | fill in the blank 8dfd4901dfde02d_1 | ||
Received from materials storeroom | fill in the blank 8dfd4901dfde02d_2 | ||
Total units accounted for by the Roasting Department | fill in the blank 8dfd4901dfde02d_3 | ||
Units to be assigned costs: | |||
Equivalent Units | |||
Whole Units | Direct Materials | Conversion | |
Inventory in process, July 1 | fill in the blank 8dfd4901dfde02d_4 | fill in the blank 8dfd4901dfde02d_5 | fill in the blank 8dfd4901dfde02d_6 |
Started and completed in July | fill in the blank 8dfd4901dfde02d_7 | fill in the blank 8dfd4901dfde02d_8 | fill in the blank 8dfd4901dfde02d_9 |
Transferred to Packing Department in July | fill in the blank 8dfd4901dfde02d_10 | fill in the blank 8dfd4901dfde02d_11 | fill in the blank 8dfd4901dfde02d_12 |
Inventory in process, July 31 | fill in the blank 8dfd4901dfde02d_13 | fill in the blank 8dfd4901dfde02d_14 | fill in the blank 8dfd4901dfde02d_15 |
Total units to be assigned costs | fill in the blank 8dfd4901dfde02d_16 | fill in the blank 8dfd4901dfde02d_17 | fill in the blank 8dfd4901dfde02d_18 |
Cost Information | |||
Costs per equivalent unit: | |||
Direct Materials | Conversion | ||
Total costs for July in Roasting Department | $fill in the blank 8dfd4901dfde02d_19 | $fill in the blank 8dfd4901dfde02d_20 | |
Total equivalent units | fill in the blank 8dfd4901dfde02d_21 | fill in the blank 8dfd4901dfde02d_22 | |
Cost per equivalent unit | $fill in the blank 8dfd4901dfde02d_23 | $fill in the blank 8dfd4901dfde02d_24 | |
Costs charged to production: | |||
Direct Materials | Conversion | Total | |
Inventory in process, July 1 | $fill in the blank 8dfd4901dfde02d_25 | ||
Costs incurred in July | fill in the blank 8dfd4901dfde02d_26 | ||
Total costs accounted for by the Roasting Department | $fill in the blank 8dfd4901dfde02d_27 | ||
Cost allocated to completed and partially completed units: | |||
Inventory in process, July 1 balance | $fill in the blank 8dfd4901dfde02d_28 | ||
To complete inventory in process, July 1 | $fill in the blank 8dfd4901dfde02d_29 | $fill in the blank 8dfd4901dfde02d_30 | fill in the blank 8dfd4901dfde02d_31 |
Cost of completed July 1 work in process | $fill in the blank 8dfd4901dfde02d_32 | ||
Started and completed in July | fill in the blank 8dfd4901dfde02d_33 | fill in the blank 8dfd4901dfde02d_34 | fill in the blank 8dfd4901dfde02d_35 |
Transferred to Packing Department in July | $fill in the blank 8dfd4901dfde02d_36 | ||
Inventory in process, July 31 | fill in the blank 8dfd4901dfde02d_37 | fill in the blank 8dfd4901dfde02d_38 | fill in the blank 8dfd4901dfde02d_39 |
Total costs assigned by the Roasting Department | $fill in the blank 8dfd4901dfde02d_40 |
2. Assuming that the July 1 work in process inventory includes $16,940 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 | $fill in the blank 6ddc0df63ff3024_2 | |
Change in conversion cost per equivalent unit | $fill in the blank 6ddc0df63ff3024_4 |
Please answer all parts.
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