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Cost of Production Report: Average Cost Method The increases to Work in ProcessRoasting Department for Highlands Coffee Company for May 2016 as well as information
Cost of Production Report: Average Cost Method
The increases to Work in ProcessRoasting Department for Highlands Coffee Company for May 2016 as well as information concerning production are as follows:
Work in process, May 1, 1,150 pounds, 40% completed | $ 1,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coffee beans added during May, 10,900 pounds | 28,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion costs during May | 12,504 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Work in process, May 31, 800 pounds, 80% completed | _ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goods finished during May, 11,250 pounds Prepare a cost of production report, using the average cost method. If required, round cost per equivalent unit answers to the nearest cent.
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