Cost of Production Report

The debits to Work in Process$$Roasting Department for Daybreak Brew Coffee Company for August, together with information concerning production, are as follows:

Work in process, August $1,700$ pounds, $50\%$ completed $$3,360*$

$*$Direct materials $(700$ X $$4)$ $$2,800$

Conversion $(700$ X $50\%$ X $$1\mathrm{.}6)$ $$560$

$$3,360$

Coffee beans added during August, $22,000$ pounds $$86,900$

Conversion costs during August $37,434$

Work in process, August $31,1,100$ pounds, $70\%$ completed $?$

Goods finished during August, $21,600$ pounds $?$

Question Content Area

All direct materials are placed in process at the beginning of production.

a$.$ Prepare a cost of production report, presenting the following computations:

Direct materials and conversion equivalent units of production for August

Direct materials and conversion costs per equivalent unit for August

Cost of goods finished during August

Cost of work in process at August $31$

If an amount box does not require an entry, leave it blank. For the cost per equivalent unit, round your answer to two decimal places.

Unit Information

Units charged to production:

Inventory in process, August $1$

Received from materials storeroom

Total units accounted for by the Roasting Department

Units to be assigned costs:

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

Costs per equivalent unit:

Total costs for August in Roasting Department

Total equivalent units

Cost per equivalent unit $(2)$

Costs assigned to production: