Cost of Production Report

The debits to Work in ProcessRoasting Department for St. Arbucks Coffee Company for July 2014, together with information concerning production, are as follows:

Work in process, July 1, 900 pounds, 50% completed				$3,555*
	*Direct materials (900 X $3.30)	$2,970
	Conversion (900 X 50% X $1.30)	$585
		$3,555
Coffee beans added during July, 28,000 pounds				91,000
Conversion costs during July				38,458
Work in process, July 31, 1,400 pounds, 30% completed				?
Goods finished during July, 27,500 pounds				?

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

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

1. Direct materials and conversion equivalent units of production for July.

2. Direct materials and conversion costs per equivalent unit for July.

3. Cost of goods finished during July.

4. Cost of work in process at July 31, 2014.

If an amount is zero, enter in "0". For the cost per equivalent unit, round your answer to two decimal places.

Hide All direct materials are placed in process at the beginning of production. a. Prepare a cost of production report, presenting the following computations: 1. Direct materials and conversion equivalent units of production for July 2. Direct materials and conversion costs per equivalent unit for July, 3. Cost of goods finished during July. 4. Cost of work in process at July 31, 2014. If an amount is zero, enter in "0". For the cost per equivalent un round your answer to two decimal places. St. Arbucks Coffee Company Cost of Production Report-Roasting Department For the Month Ended July 31, 2014 Unit Information Units charged to production: Inventory in process, July 1 Received from materials storeroom Total units accounted for by the Roasting Department Units to be assigned costs: Equivalent Units whole units Direct Materials (1) Inventory in process, July 1 Started and completed in July Transferred to finished goods in July Inventory in process, July 31 Total units to be assigned costs Costs per equivalent unit: Direct Materials Total costs for July in Roasting Department Total equivalent units Conversion (1) Conversion Hint(s)