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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, 1,000 pounds, 10% completed | $16,290 |
Coffee beans added during March, 61,700 pounds | 561,880 |
Conversion costs during March | 236,150 |
Work in process, March 31, 600 pounds, 90% completed | _ |
Goods finished during March, 62,100 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 | $ |
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