Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Production Report take Assignment Main.do?invoker-take AssignmentSession locator Binprogress=false The debits to Work in Process --Roasting Department for Morning Brew Coffee Company for August,

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Cost of Production Report take Assignment Main.do?invoker-take AssignmentSession locator Binprogress=false The debits to Work in Process --Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 700 pounds, 20% completed Direct materials (700 X 54.70) Conversion (700 x 20% X $1.35) $3,479- 1,290 $3,479 Coffee beans added during August 14,300 pounds Conversion costs during August Work in process, August 31,400 pounds, 42% completed Goods finished during August 14,600 pounds 65,780 21,942 All direct materials are placed in process at the beginning of production 8. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for August 2. Direct materials and conversion p ouvaient unit for August 3. Cost of goods finished during August 4. Cost of work in process at August 31 If an amount is zero, enter in " For the cost peru ntu d your wer to the rest cent. Morning Brew Coffee Company Cost of Production Report-Roasting Department Morning Brew Coffee Company Cost of Production Report-Roasting Department For the Month Ended August 31 Unit Information Units charged to production: Inventory in process, August 1 JILLE 1 Received from materials storeroom / I /// // U / Total units accounted for by the Roasting Department Units to be assigned costs: // Equivalent Units Direct Materials Conversion Whole Units Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total units to be assigned costs Cost Information Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for August in Roasting Department Total equivalent units Cost per equivalent unit (2) Costs assigned to production: Direct comer Materials Total Conversion Inventory in process, August 1 Costs incurred in August Total costs accounted for by the Roasting Department Costs allocated to completed and partially completed units: Inventory in process, August 1 balance To complete inventory in process, August 1 Cost of completed August 1 work in process Started and completed in August Transferred to finished goods in August (3) Check My Work Transferred to finished goods in August (3) Inventory in process, August 31 ( Total costs assigned by the Roasting Department b. Compute and evaluate the change in cost pe decimal places. materials and conversion from the p Increase or Decrease Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions