Question
Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the
Cost of Production Report
Hana 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., 7,000 units, 4/5 completed | 23,380 | ||||||
31 | Direct materials, 315,000 units | 882,000 | 905,380 | ||||||
31 | Direct labor | 174,500 | 1,079,880 | ||||||
31 | Factory overhead | 43,620 | 1,123,500 | ||||||
31 | Goods transferred, 316,000 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.
Hana 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 2b5b8c02ffc6fcf_1 | ||
Received from materials storeroom | fill in the blank 2b5b8c02ffc6fcf_2 | ||
Total units accounted for by the Roasting Department | fill in the blank 2b5b8c02ffc6fcf_3 | ||
Units to be assigned costs: | |||
Equivalent Units | |||
Whole Units | Direct Materials | Conversion | |
Inventory in process, July 1 | fill in the blank 2b5b8c02ffc6fcf_4 | fill in the blank 2b5b8c02ffc6fcf_5 | fill in the blank 2b5b8c02ffc6fcf_6 |
Started and completed in July | fill in the blank 2b5b8c02ffc6fcf_7 | fill in the blank 2b5b8c02ffc6fcf_8 | fill in the blank 2b5b8c02ffc6fcf_9 |
Transferred to Packing Department in July | fill in the blank 2b5b8c02ffc6fcf_10 | fill in the blank 2b5b8c02ffc6fcf_11 | fill in the blank 2b5b8c02ffc6fcf_12 |
Inventory in process, July 31 | fill in the blank 2b5b8c02ffc6fcf_13 | fill in the blank 2b5b8c02ffc6fcf_14 | fill in the blank 2b5b8c02ffc6fcf_15 |
Total units to be assigned costs | fill in the blank 2b5b8c02ffc6fcf_16 | fill in the blank 2b5b8c02ffc6fcf_17 | fill in the blank 2b5b8c02ffc6fcf_18 |
Cost Information | |||
Cost per equivalent unit: | |||
Direct Materials | Conversion | ||
Total costs for July in Roasting Department | $fill in the blank 2b5b8c02ffc6fcf_19 | $fill in the blank 2b5b8c02ffc6fcf_20 | |
Total equivalent units | fill in the blank 2b5b8c02ffc6fcf_21 | fill in the blank 2b5b8c02ffc6fcf_22 | |
Cost per equivalent unit | $fill in the blank 2b5b8c02ffc6fcf_23 | $fill in the blank 2b5b8c02ffc6fcf_24 | |
Costs assigned to production: | |||
Direct Materials | Conversion | Total | |
Inventory in process, July 1 | $fill in the blank 2b5b8c02ffc6fcf_25 | ||
Costs incurred in July | fill in the blank 2b5b8c02ffc6fcf_26 | ||
Total costs accounted for by the Roasting Department | $fill in the blank 2b5b8c02ffc6fcf_27 | ||
Costs allocated to completed and partially completed units: | |||
Inventory in process, July 1 balance | $fill in the blank 2b5b8c02ffc6fcf_28 | ||
To complete inventory in process, July 1 | $fill in the blank 2b5b8c02ffc6fcf_29 | $fill in the blank 2b5b8c02ffc6fcf_30 | fill in the blank 2b5b8c02ffc6fcf_31 |
Cost of completed July 1 work in process | $fill in the blank 2b5b8c02ffc6fcf_32 | ||
Started and completed in July | fill in the blank 2b5b8c02ffc6fcf_33 | fill in the blank 2b5b8c02ffc6fcf_34 | fill in the blank 2b5b8c02ffc6fcf_35 |
Transferred to Molding Department in July | $fill in the blank 2b5b8c02ffc6fcf_36 | ||
Inventory in process, July 31 | fill in the blank 2b5b8c02ffc6fcf_37 | fill in the blank 2b5b8c02ffc6fcf_38 | fill in the blank 2b5b8c02ffc6fcf_39 |
Total costs assigned by the Roasting Department | $fill in the blank 2b5b8c02ffc6fcf_40 |
Feedback
1. Calculate equivalent units for materials and conversion costs. Calculate the cost per equivalent unit for materials and conversion costs. Calculate the costs assigned to the beginning inventory, the units started and completed, and the ending inventory.
2. Assuming that the July 1 work in process inventory includes $18,900 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between February and July. If required, round your answers to the nearest cent.
Increase or Decrease | Amount | |
Change in direct materials cost per equivalent unit | Increase | $fill in the blank 99457c00005cfed_2 |
Change in conversion cost per equivalent unit | Decrease | $fill in the blank 99457c00005cfed_4 |
Feedback
2. Compare the costs per equivalent unit for February and July. The costs per equivalent unit for materials and conversion for February are in the July 1 work in process inventory. The materials amount is given.
Feedback
Partially correct
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