Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Production Report: Average Cost Method The increases to Work in ProcessRoasting Department for Boston Coffee Company for March 2016 as well as information

Cost of Production Report: Average Cost Method

The increases to Work in ProcessRoasting Department for Boston Coffee Company for March 2016 as well as information concerning production are as follows:

Work in process, March 1, 3,100 pounds, 40% completed $31,070
Coffee beans added during March, 191,300 pounds 1,072,040
Conversion costs during March 450,570
Work in process, March 31, 1,900 pounds, 90% completed _
Goods finished during March, 192,500 pounds _

Prepare a cost of production report, using the average cost method. If required, round cost per equivalent unit answers to the nearest cent.

Boston Coffee Company
Cost of Production Report-Roasting Department
For the Month Ended March 31, 2016
Unit Information
Units to account for during production:
Inventory in process, March 1
Received from materials storeroom
Total units accounted for by the Roasting Department
Units to be assigned costs:
Whole Units Equivalent Units of Production
Transferred to finished goods in March
Inventory in process, March 31
Total units to be assigned costs
Cost Information
Costs per equivalent unit:
Costs
Total costs for March in Roasting Department $
Total equivalent units
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:
Transferred to finished goods in March $
Inventory in process, March 31
Total costs assigned by the Roasting Department $

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

Essentials Of Crm

Authors: Bryan Bergeron

1st Edition

0471206032, 978-0471206033

More Books

Students also viewed these Accounting questions